In 2014, Kaz Minerals lost $85million in sales

KAZ Minerals has published the results of its operations and audited financial results for 2014. The revenues from sales declined to $846 million as compared with $931 million in 2013, the press centre of the Group reports.

"The reason was the decline in metal prices and a reduction in sales volumes. In 2014, the Group sold 78.2 thousand tons of copper cathode from produced 83.5 thousand tons. At the same time, the Group's EBITDA from continuing operations in the reporting period - $355 million – remained at the level of 2013 - $359 million - due to lower operating expenses,"- the report says.

According to the received information, the reduced costs and increased sales volumes of zinc helped to reduce the net cash cost of copper production in the second half of the year to 107 US cents per pound (85 US cents per pound by results of 2014), the total cash cost of the copper production (before the accounting of by-products sale) amounted to 277 US cents per pound in the second half and 257 US cents per pound in the whole 2014.