OREANDA-NEWS. November 01, 2011. KAZAKHMYS Group announced positive production results for the third quarter of 2011 according to the annual plan and strengthening  of the company financial status, reported the press-centre of KASE.

By results copper cathode production from own concentrate of 227 kt, in line with annual target of 300 kt. Output and grades likely to remain at current levels for remainder of 2011.

By-product output on track to meet full year targets in all metals. Zinc in concentrate production of 114 kt. Gold and silver production of 111 koz and 9.9 moz respectively. Precious metal sales disrupted by Government restriction on exports during the quarter.

Kazakhmys Power continued strong performance, 20% increase in Ekibastuz GRES-1 power generation and average realised tariff.

Maintaining strong financial position. Average realised copper price of USD 9,261 per tonne for first 9 months of 2011. Balance sheet in net funds position, USD 36 million, for first time since early 2008. Buy-back underway with 1,658,976 shares purchased to date at a cost of USD 23 million.