OREANDA-NEWS. August 31, 2011. Upon results of the first half-year 2011, Kazakhmys Group demonstrates stable operating figures in accord with the annual plan and improved financial position of the company, reported the press-centre of KASE.

EBITDA of the Group (except for particular items) rose 20% on the same period of 2010 making up USD1.608 bn. The growth was based on favourable metal prices in the reporting period with fairly low net production costs of 93 cent per lb.

Despite cost increase tendencies detectable across the entire mining industry, the Group's expenses turned out to be lower than forecast thanks to revenues from accompanying products. In particular, 76 thousand tons of zinc and 6.76 m oz. of silver were produced. Competitive costs and benign price situation made up for the decreased production caused by lower content of metal in the ore, and accelerated cash flows generation.

That enabled a stronger balance sheet and 10 time reduction of the Group's net liabilities: from USD350 m at the beginning of the year to USD36 m as at the end of June 2011.