Kazakhmys PLC

4th May 2011

Kazakhmys PLC Production Report for the First Quarter Ended 31 March 2011 and Interim Management Statement

• 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
  • 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 $9,823 per tonne
  • Net debt declined to $279 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 forward.�

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