August 15, 2019 / 6:27 AM / 2 months ago

Kaz Minerals posts lower profit, cautious on copper market

Aug 15 (Reuters) - Miner Kaz Minerals said on Thursday its short-term outlook for the copper market was more cautious in the face of a prolonged Sino-U.S. trade war and a slowdown in the world’s top metals consumer China, after posting a lower first-half profit.

The company, which focuses on low-cost and open-pit mining in Kazakhstan, Kyrgyzstan and Russia, said core profit slumped 10.1% to $620 million for the six months ended June 30 due to weak commodity prices.

Reporting by Muvija M and Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich

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