Report summaryThe ore milled production shown in the accompanying analysis shows production for Akzhal since 2005. In 2003 and 2004 production was much higher due to higher grades from the operation of the East pit (71.7kt Zn and 70kt Zn concentrate respectively).
In the end-2015 financial report Chelyabinsk stated that proven ore reserves are sufficient to maintain open pit production to 2020. The underground mining project was approved in April 2015, which is forecast to extend the mine life of the deposit to 2038. The company expected that the first mined ore from the underground project would be in 2016 with the ramp up to full production achieved by 2024. The accompanying analysis assumes that the central open pit is mined until depletion and that an underground mine is developed to begin production in 2017.
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