KAZ Minerals lowered revenues by 9% to $846 mln in 2014
Almaty. February 26. KazTAG - KAZ Minerals group has lowered the revenues by 9% to $846 mln in 2014, indicates the annual report, spread by the press-service of the company.
"The revenues from sales lowered to $846 mln in 2014 in comparison to $931 mln in 2013. The reduction was caused by fall of metal prices and reduction of sales volumes. In 2014 the group sold 78.2 thousand tons of cathode copper out of produced 83.5 thousand tons," said the company.
EBITDA of the group lowered to $355 mln ($359 mln in 2013).
As of December 31 2014 the net debt of KAZ Minerals made up $962 mln, which reflects the planned increase of capital expenses for construction of two big ore mines of Bozshakol in Pavlodar region and Aktogay in East Kazakhstan region. The projects financing has been provided by the long-term loans and owned funds.