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At last! Kazakhmys shows that miners can sparkle; MARKET ROUND-UP.

Publication: The Evening Standard (London, England)
Publication Date: 27-AUG-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: At last! Kazakhmys shows that miners can sparkle; MARKET ROUND-UP.(Business)

Article Excerpt
Byline: Rosamund Urwin

KAZAKHMYS was shining brightly today as the mining giant said it will beat its output targets for the year.

Just a day after fellow copper-producer Antofagasta disappointed the markets, the Kazakh-focused group raced to the top of the Footsie winners' board with a rise of 401/2p to 958p on the back of a comparatively strong set of first-half results.

Profits before tax fell by 27% to $645 million ([pounds sterling]398 million) on the back of much lower metal prices but this smashed analysts' forecasts. The group has ditched its dividend to save cash and reduce debt.

Investors were also snapping up the shares thanks to positive comments on sales and prices from chief executive Oleg Novachuk, who...

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