KAZ Minerals reduced revenue by 21% in 2015

​On the results of 2016 KAZ Minerals made revenue of $665 mln against $846 mln in 2014.

It was due to the price fall for metals. The average copper price on the LME in 2015 made up $5,495/ton, by 20% lower than in 2014. In early 2016 copper was sold lower than $4,400/ton on the LME.

EBITDA of the group made up $202 mln against $355 mln in 2014.

In the conditions of low prices for raw materials by means of the control over the expenditure, the company managed to reduce the total monetary prime cost of produced goods to $0.23/lb, this is lower than the planned rate of $0.26-0.28/lb and $0.277/lb in H2 2014.

The net monetary prime cost made up $0.109/lb. this result allows the company to be in the first quartile on the cost curve among international copper production projects.