April 30, 2020 / 6:45 AM / a month ago

Kaz Minerals cuts spending forecast, expects delay in Aktogay expansion project

April 30 (Reuters) - Copper miner Kaz Minerals on Thursday cut its forecast capital expenditure for 2020 and said production from its Aktogay expansion project in Kazakhstan will be delayed due to coronavirus-driven disruptions.

The miner said it now expects capital expenditure in 2020 to be between $300 million and 350 million, lower than $400 million forecast previously.

The Aktogay expansion project remains on track for completion in 2021, as previously guided, but is now expected to commence production in late 2021, the miner said. (Reporting by Shanima A in Bengaluru; Editing by Aditya Soni)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below