OREANDA-NEWS. May 05, 2011. Copper cathode production of 74 kt

On track to meet the full year target of 300 kt

Mined by-product output in line with full year target

Zinc in concentrate output of 36 kt

Mined silver and gold output remains on track

ЃЎ Finished metal output reduced by accumulation of work in progress, to be processed during 2011

Kazakhmys Power continues to benefit from strong market demand

Net generated power of 3,557 GWh, a 22% increase compared to Q1 2010

Realised tariff has risen to 5.38 KZT/kWh, close to the 2011 domestic ceiling tariff

Commodity pricing has remained firm over the period

Average copper price of USD 9,823 per tonne

Net debt declined to USD 295 million

Oleg Novachuk, Chief Executive Officer, said: "We have had a solid start to the year with copper cathode production on track to meet our full year target. Demand in the Power division has been strong, with net generation increasing 22% compared to the same period in 2010. With commodity pricing remaining firm, strong demand from our customers and good operating cash flows, I am also pleased to report a reduction in our net debt figure across the quarter, further strengthening our financial position and positioning us well to drive our major growth projects forwards."