Nostrum Oil & Gas

2017-04-22T20:07:38Z

Dormskirk: update

{{Infobox company
| name = Nostrum Oil & Gas plc
| logo =[[File:Nostrum logo.png|150px]]
| type = [[Public limited company]]
| traded_as = {{lse|NOG}}
| foundation = 1997
| location = [[Amsterdam]], [[Netherlands]]
| key_people = Frank Monstrey ([[Chair (official)|Chairman]])<br>Kai-Uwe Kessel ([[CEO]])
| industry = [[Oil production]]
| products =
| revenue = [[US dollar|$]]348.0 million (2016)<ref name=prelims>{{cite web |url= http://www.nostrumoilandgas.com/files/attachments/.2653/Nostrum_AR_2016_WEB.pdf|title=Annual Report 2016 |publisher= Nostrom Oil & Gas |accessdate=22 April 2017}}</ref>
| operating_income = [[US dollar|$]](64.5) million (2016)<ref name=prelims/>
| net_income = [[US dollar|$]](81.9) million (2016)<ref name=prelims/>
| num_employees =
| parent =
| subsid =
| homepage = [http://www.nostrumoilandgas.com/ www.nostrumoilandgas.com]
| caption =
| footnotes =
}}
'''Nostrum Oil & Gas plc''' is an oil and gas exploration and production company operating in [[Kazakhstan]]. The company is listed on the [[London Stock Exchange]] and it is a constituent of the [[FTSE 250 Index]].

==History==
The company was established as Zhaikmunai LP in 1997 to exploit opportunities in the [[Kazakhstan]] and started production in its first field in October 2000. After acquiring interests in three additional fields in August 2012, it changed its name to Nostrum Oil & Gas in December 2013.<ref name=bnews>{{cite web|url= http://www.bnews.kz/en/news/post/176052/ |title=Kazakh Zhaikmunai changes its name to Nostrum Oil & Gas|publisher=B News|date=11 December 2013|accessdate=9 September 2014}}</ref> It was the subject of an [[initial public offering]] in June 2014.<ref>{{cite web|url=http://www.reuters.com/article/2014/05/20/nostrum-oilgas-listing-idUSL3N0O61YX20140520 |title= Nostrom Oil & Gas plans premium UK listing|publisher=Reuters|date=20 May 2014| accessdate=9 September 2014}}</ref>

==Operations==
The company operates in the following fields:<ref name=bnews/>
* Chinarevskoye Field
* Rostoshinskoye Field
* Darjinskoye Field
* Yuzhno-Gremyachenskoye Field

==References==
{{reflist|30em}}

{{Portal|Kazakhstan|Energy}}
{{FTSE 250 Index constituents}}
{{DEFAULTSORT:Nostrum Oil and Gas}}
[[Category:Oil and gas companies of Kazakhstan]]
[[Category:Energy companies established in 1997]]
[[Category:Non-renewable resource companies established in 1997]]
[[Category:1997 establishments in Kazakhstan]]
[[Category:Companies listed on the London Stock Exchange]]

KAZ Minerals

2017-04-22T12:06:20Z

Dormskirk: /* Production */ punct

{{Use dmy dates|date=April 2011}}
{{Infobox company
| name = KAZ Minerals
| logo = Kaz Minerals logo.jpg
| type = Public company
| traded_as = {{lse|KAZ}}, {{hkse|847}}
| foundation = 1930
| location = [[Almaty]], [[Kazakhstan]]
| key_people = Simon Heale, Chairman <br /> [[Oleg Novachuk]], CEO
| industry = Mining
| products = Copper, zinc, silver, gold
| revenue = [[Dollar|$]]766 million (2016)<ref name=prelims>{{cite web|url=http://www.kazminerals.com/resources/59630/2016_AnnualReport.pdf|title=Annual Report 2016|publisher=KAZ Minerals|accessdate=22 April 2017}}</ref>
| operating_income = [[Dollar|$]]218 million (2016)<ref name=prelims/>
| net_income = [[Dollar|$]]177 million (2016)<ref name=prelims/>
| num_employees = 12,125 (2016)<ref name=prelims/>
| parent =
| subsid =
| homepage = [http://www.kazminerals.com www.kazminerals.com]
| footnotes =
}}
'''KAZ Minerals''' is a copper company focused on large scale, low cost [[open pit mining]] in [[Kazakhstan]]. The Group is listed in London, Kazakhstan and Hong Kong stock exchanges. The company operates 4 underground mines and 3 concentrators in the East Region, one open pit mine at Bozymchak, [[Kyrgyzstan]] and is developing two major growth projects [[Aktogay mine|Aktogay]] and [[Bozshakol mine|Bozshakol]], with the third - Koksay - at scoping stage. KAZ Minerals was created after the completion of the Restructuring of [[Kazakhmys|Kazakhmys PLC]]. The company is listed on the [[London Stock Exchange]] and it is a constituent of the [[FTSE 250 Index]].

== History ==
In 1930 Kazakhmys' operations began at the [[Balkhash (city)|Balkhash]] copper smelting complex in Kazakhstan. In 1971 smelting operations commenced at the Zhezkazgan Complex. The Government of Kazakhstan forms the company, entitled OJSC Zhezgazgantsvetmet in 1992. From 1992 to 2002, a series of privatisations reduce the Government's holding from 100% to 0%. [[Samsung Corporation]] of [[Korea]] took over management of the company in June 1995. In 1996, Samsung acquired a 40% stake but subsequently sold it.<ref>{{cite web|url=https://books.google.co.uk/books?id=Qnc_qxrElAYC&pg=PA94&lpg=PA94&dq=Samsung+%22Kazakhmys%22+40%25&source=bl&ots=HT7X-vrpoH&sig=MIpiLtcOj5XyOhJs4QRt_R-4KZM&hl=en&sa=X&ved=0ahUKEwjA0r_hgLjTAhVsCMAKHTD7ABAQ6AEIMTAD#v=onepage&q=Samsung%20%22Kazakhmys%22%2040%25&f=false|title=OECD Global Forum on International Investment Foreign Direct Investment|page=94|publisher=OECD|accessdate=22 April 2017}}</ref>

Kazakhmys was listed on the [[London Stock Exchange]] in October 2005 at 540 pence per share, joining the broad range of international mining companies listed in London.<ref>{{cite web|url=http://www.marketwatch.com/story/kazakhmys-prices-london-ipo-toward-upper-end|title=Kazakhmys prices London IPO toward upper end|publisher=Market Watch|date=7 October 2005|accessdate=22 March 2015}}</ref> In January 2010 Kazakhmys announced the first of two facilities, totalling $4.2 billion, from the [[China Development Bank]] Corporation, to support growth projects.<ref>{{cite web|url=http://www.timesca.com/news/9716-kazakhstans-leading-copper-producer-posts-half-year-results|title=Kazakhstan’s leading copper producer posts half-year results|publisher=The Times of Central Asia|date=5 September 2013|accessdate=22 March 2015}}</ref> In February 2010 the company completed the sale of a 50% stake in its Ekibastuz GRES-1 power plant to the National Welfare Fund [[Samruk-Kazyna]] JSC for $681 million. This was originally set out at the time of purchase in May 2008.<ref>{{cite web|url=http://www.advfn.com/lse/ShareNews.asp?sharenews=KAZ&article=40708556|title=Kazakhmys To Sell 50% Of Ekibastuz Gres -1 Plant For $681 Million|publisher=ADVFN|date=9 December 2013|accessdate=22 March 2015}}</ref>

On 11 November 2013 the Company announced the sale of its stake in ENRC. Following the transaction, which included the offer of certain Kazakhmys shares to ENRC shareholders, Kazakhmys becomes a majority free float company for the first time.<ref>{{cite web|url=http://www.telegraph.co.uk/finance/10356066/Kazakhmys-sells-ENRC-stake.html|title=Kazakhmys sells ENRC stake|publisher=The Telegraph|date=4 October 2013|accessdate=22 March 2015}}</ref> On 7 January 2014 the Group approved the disposal of its 50% stake in the [[Ekibastuz]] GRES-1 power station, to become a focused, pure-play copper mining company.<ref>{{cite web|url=http://m.londonstockexchange.com/exchange/mobile/news/detail/11798943.html|title=Proposed sale of remaining 50 per cent. of the issued share capital of Ekibastuz LLP and 100 per cent. of the issued share capital of Kazhydro to Samruk-Energo|date=9 December 2013|publisher=Kazakhmys|accessdate=22 March 2015}}</ref> On 15 August 2014 the independent shareholders vote to approve the Group Restructuring. Kazakhmys PLC disposed of a number of mature assets primarily in the Zhezkazgan and Central Regions to Cuprum Holding, a company whose principal shareholder is [[Vladimir Kim]]. On completion Kazakhmys PLC was renamed KAZ Minerals PLC.<ref name="Londonstockexchange">{{cite web|url=http://m.londonstockexchange.com/exchange/mobile/news/detail/12135519.html|title=Kazakhmys announces completion of restructuring|publisher=London Stock Exchange|accessdate=2014-12-12}}</ref>

Following the completion of a major restructuring on 31 October 2014 which included the disposal of mining, smelting and power assets in the Zhezkazgan and Central Regions, the Group became a high growth copper company focused on large scale, low cost open pit mining in Kazakhstan. The company was renamed ‘KAZ Minerals PLC’.<ref name="BloombergKazakhmys">{{cite web|url=https://www.bloomberg.com/news/2014-10-31/kazakhmys-completes-restructuring-changes-name-to-kaz-minerals.html|title=Kazakhmys Completes Restructuring, Changes Name to KAZ Minerals|publisher=Bloomberg|accessdate=2014-12-12}}</ref><ref name="ReutersUk">{{cite web|url=http://uk.reuters.com/article/2014/10/31/uk-kazakhstan-copper-idUKKBN0IK0ZN20141031|title=Copper miner Kazakhmys restructuring over, now called Kaz Minerals|publisher=Reuters|accessdate=2014-12-12}}</ref> On 23 July 2014 the Group announced that it had entered into a definitive agreement to transfer certain of its mature assets in the [[Zhezkazgan]] and Central Regions of Kazakhstan to Cuprum Holding B.V.<ref name="BloombergKazakhmys"/> On 15 August 2014 shareholders approved a major restructuring of the Group. All outstanding conditions to the restructuring were satisfied on 31 October 2014 with economic separation effective from 1 August 2014.<ref name="ComKazakhmys">{{cite web|url=http://www.ft.com/fastft/229262/kazakhmys-is-now-kaz-minerals-miner-splits|title=Kazakhmys is now KAZ Minerals as miner splits - fastFT: Market-moving news and views, 24 hours a day|publisher=FT.com|accessdate=2014-12-12}}</ref>

== Operations ==

KAZ Minerals is focused on copper production but also produces and sells significant quantities of zinc, silver and gold as by-products. In 2013, prior to the Group restructuring the company produced 294 kt of copper cathode equivalent from own material, 108 koz of gold, 14,348 koz of silver and 134 kt of zinc in concentrate.<ref name="Annual Report 2013">[http://www.kazminerals.com/en/investors_media/investor_library?category=1&year=2014 Annual report 2013 PDF], pages 30-31.</ref> In 2014 the operating assets in the East Region and [[Bozymchak]] produced 83.5 kt of copper cathode 121 kt of zinc in concentrate, 3,435 koz of silver and 35 koz of gold.<ref name=prelims/><ref name="company website">{{cite web|url=http://www.kazminerals.com/en/operations/mining_concentrating|title=KAZ Minerals PLC - Our business - Mining |publisher=kazminerals.com|accessdate=2014-12-12}}</ref>

The Group operates the following assets:
*East Region
**Four underground mines
***Orlovsky mine
***Irtyshsky mine
***Yubileyno-Snegirikhinsky mine
***Artemyevsky mine
**3 concentrators
***Orlovsky concentrator
***Belousovsky concentrator
***Nikolayevsky concentrator
*[[Kyrgyzstan]]
**[[Bozymchak]]
*Growth projects
**[[Aktogay mine|Aktogay]]
**[[Bozshakol mine|Bozshakol]]
**[[Koksay]]

=== East Region ===
East Region has the following assets:
*Four underground mines: Orlovsky, Irtyshsky, Yubileyno-Snegirikhinsky and Artemyevsky
*Three concentrators: Orlovsky, Belousovsky and Nikolayevsky.

In the 2014, the East Region mined approximately 4.2 MT of ore at a copper grade of 2.48%, and produced 89.2 kt of copper in concentrate.<ref name="company website"2>{{cite web|url=http://www.kazminerals.com/en/operations/east_region|title=KAZ Minerals PLC - Our business - Mining - East Region |publisher=kazminerals.com|accessdate=2014-12-12}}</ref>

=== Bozymchak, Kyrgyzstan ===
[[Bozymchak]] is located in Ala-Bukinsky region, [[Jalal-Abad, Kyrgyzstan]]. Bozymchak is expected to have an average annual output of 6 kt of copper in concentrate and 28 koz of gold bar over the life of the mine.<ref name="AR201448">{{cite web|url=http://asp-gb.secure-zone.net/v2/index.jsp?id=624/3348/9925&lng=en|title=KAZ Minerals Annual Report 2014}}, page. 48.</ref>

=== Growth Projects ===
The group is developing 2 growth projects - [[Aktogay mine|Aktogay]] and [[Bozshakol mine|Bozshakol]] projects, with third - [[Koksay]] - at scoping stage.<ref name="BloombergKazakhmys"/>
[[Bozshakol mine|Bozshakol]] is the Group's major growth project; it is located in Pavlodar region, Kazakhstan. Mineral resources are: 1,170 MT of ore with 4.2 MT of contained copper at an average grade of 0.36%.<ref name="AR2014">KAZ Minerals Annual Report 2014.</ref> [[Aktogay mine|Aktogay]] is the Group's second largest project, located in eastern Kazakhstan. Mineral resources are: 1,597 MT of sulphide ore at 0.33% copper grade and 121 MT of oxide ore at 0.37% copper grade.<ref name="AR201443">KAZ Minerals Annual Report 2014, page. 43.</ref> [[Koksay]] is located in south eastern Kazakhstan around 234 kilometres from [[Almaty]] and is close to existing infrastructure. It contains measured and indicated mineral resource of 701 MT with a copper grade of 0.44%.<ref>KAZ Minerals Annual Report 2014, p. 48.</ref>

== Production ==
KAZ Minerals is focused on copper production. In 2014 the operating assets produced 83.5 of copper cathode.<ref>{{cite web|url=http://www.kazminerals.com/en/operations/production_summary|title=KAZ Minerals PLC - Our business - Production summary|publisher=kazminerals.com|accessdate=2015-04-10}}</ref> KAZ Minerals also produces significant quantities of zinc, silver and gold as by-products. In 2014 the operating assets produced 35 koz of gold, 3,453 koz of silver and 121 kt of zinc in concentrate.<ref name="company website"3/><ref name="LSE KAZ Minerals 2014 Audited results">{{cite web|url=http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12262095.html|title=Audited Results for Year ended 31 December 2014|publisher=London Stock Exchange|accessdate=2015-04-10}}</ref> In 2015, producing assets are expected to produce between 80 - 85 kt of copper cathode, between 90 - 95 kt of zinc in concentrate, between 42 - 47 koz of gold bar and between 2,250 - 2,500 kox of silver granule.<ref name=prelims/><ref>{{cite web|url=http://www.kazminerals.com/en/about_us/facts_figures|title=KAZ Minerals PLC - About US - Facts & Figures|publisher=kazminerals.com|accessdate=2015-04-10}}</ref>

==See also==
* [[Bozshakol mine|Bozshakol]]
* [[Aktogay mine|Aktogay]]
* [[Koksay]]
* [[Bozymchak]]

==References==
{{Reflist|30em}}

== External links ==
* {{Official website|http://www.kazminerals.com|KAZ Minerals official website}}: www.kazminerals.com

[[Category:Mining companies of Kazakhstan]]
[[Category:Copper mining companies]]
[[Category:Kazakhmys]]
[[Category:Companies based in London]]
[[Category:Non-renewable resource companies established in 1930]]
[[Category:1930 establishments in England]]
[[Category:1930s establishments in Kazakhstan]]
[[Category:Companies listed on the London Stock Exchange]]
{{Index KASE}}
{{FTSE 250 Index constituents}}

Kazakhstan Encyclopedia - User contributions [en]

Nostrum Oil & Gas

KAZ Minerals