KAZ MINERALS GROUP PRODUCTION AND SALES REPORT
FOR TWELVE MONTHS AND THE FOURTH QUARTER ENDED 31 DECEMBER 2021.

12m 2021 12m 2020 Q4 2021 Q3 2021 Q4 2020
Copper production1 kt 298.7 305.7 74.8 73.6 75.7
Aktogay kt 138.4 131.2 36.1 32.4 31.9
Bozshakol kt 107.5 122.0 25.9 27.7 31.3
East Region & Bozymchak kt 52.8 52.5 12.8 13.5 12.5
Gold production2 koz 166.8 196.3 40.6 43.3 35.9
Silver production2 koz 3,417 3,374 904 849 732
Zinc in concentrate kt 46.5 49.7 12.4 12.3 10.2
Copper sales3 kt 252.6 300.4 53.2 62.4 72.1
Gold sales4 koz 136.9 204.6 38.4 36.0 45.4
Silver sales4 koz 2,935 3,496 719 805 896
Zinc in concentrate sales kt 42.9 50.3 9.7 11.1 11.4
1 Payable metal in concentrate and copper cathode from Aktogay oxide ore
2 Payable metal in concentrate
3 Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
4 Payable metal in concentrate and toll processed metal

? Highlights
? KAZ Minerals achieved copper production of 299 kt in 2021, exceeding the production target set at the
start of the year of 275-295 kt, due to Aktogay and Bozshakol operating above design capacity and an exceptional ramp-up at the Aktogay expansion.
? The second sulphide concentrator at Aktogay was commissioned in October 2021 and has shipped its first copper concentrate to customers during the fourth quarter. The ramp-up has outperformed expectations,
with the new concentrator achieving design capacity throughput for extended periods.
? Copper production in the fourth quarter increased by 2% to 75 kt (Q3 2021: 74 kt) driven by an increase at Aktogay following the start-up of the second sulphide concentrator, which offset lower output from Bozshakol and East Region & Bozymchak, where grades fell.
? Full year gold production of 167 koz was consistent with the Group’s target of 160-180 koz. KAZ Minerals exceeded its annual targets for the production of both silver and zinc in concentrate.
? Copper sales of 253 kt in 2021 were 18% below production as the Group experienced congestion on the rail network during the second half of the year, including restrictions at the Kazakhstan-China border associated with enhanced Covid-19 measures. There has subsequently been a significant improvement in transit times with inventory levels reducing in January.
? At the start of January there was unrest in Kazakhstan. None of the Group’s staff were harmed and there was no damage to Group property. There was minimal disruption to the Group’s operations, all of which are running at full capacity.
Andrew Southam, Chief Executive Officer, said: “KAZ Minerals’ operations continued to perform strongly in the fourth quarter, and supported by the exceptional ramp-up of the second concentrator at Aktogay, the Group met or exceeded its production targets for all metals. We have had a good start to 2022, with the second concentrator at Aktogay set to deliver further growth in the year.”

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https://www.kazminerals.com/media/22270/q4-2021-production-report-final.pdf