- Kaz Minerals raised its guidance on silver and zinc production and said all metals were on track to achieve or exceed full-year production guidance despite a slip in quarterly silver and gold output in the third quarter.

Silver production guidance was increased to about 3.5 million ounces and zinc in concentrate guidance to 45,000-to-50,000 tonnes.

Copper production, which fell to 76,200 tonnes in Q3, from 78.9kt in Q2, was on track to achieve the top end of full-year guidance of 280-300 kt, the company said.

Gold production, which fell to 50.7 koz in Q3 from 54.3 koz in Q2, was forecast to reach the top end of the 180-to-200 koz guidance range.

'Copper output from our mines in Kazakhstan has been uninterrupted in 2020, with year to date copper volumes maintained at a similar level to 2019 whilst by-product output is significantly ahead,' the company said.

'Whilst maintenance is scheduled for Q4, we are on track to achieve the upper end of our copper and gold guidance ranges and have increased production guidance for silver and zinc,' it added. Commenting on its impending takeover, the company reiterated that it expected the deal to be completed in the first half of 2021, subject to shareholder and regulatory approval.

At 8:04am: [LON:KAZ] Kaz Minerals PLC share price was -2.6p at 625.4p

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