October 31, 2014 / 11:02 AM / 4 years ago

Copper miner Kazakhmys restructuring over, now called Kaz Minerals

LONDON (Reuters) - Kazakh copper mining company Kazakhmys (KAZ.L) said on Friday it has completed a restructuring plan which splits the company in two, in an effort to improve the performance of the London-listed group.

A man walks past the logo of mining group Kazakhmys, at the company's office in Almaty May 15, 2013. REUTERS/Shamil Zhumatov

Under the plan, first announced in February, Kazakhmys is transferring some of its older and less-profitable assets to a private company owned by two of its shareholders, hoping to improve it performance.

The London-listed miner will be renamed Kaz Minerals.

Like its peers, Kazakhmys is battling rising production costs and falling metal grades which together with weaker prices have squeezed margins.

Reporting by Silvia Antonioli, editing by William Hardy

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