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Executive Profile: Andrew Southam, CEO Kaz Minerals (Asia)

CEO: Kaz Minerals (Kazakhstan)
Value: $4.4 Billion
Employee base: 13,000 (principally in Kazakhstan)
Share Value:
LONDON: 619.00p +25.60p (+4.31%) as at 01 Feb 2019. <br>KAZAKHSTAN: KZT 2981.02
+91.01 (+3.13%) as at 01 Feb 2019
KAZ Minerals is one of the largest copper producers in Kazakhstan. The company is focused on mining of copper and the development of new copper mining projects in Kazakhstan.
Andrew joined the Company in 2006 and he has held several senior positions including Chief Financial Officer from 2013 to 2017 and was appointed Chief Executive Officer at the start of 2018. He brings significant strategic and operational oversight and was one of the 2 architects of the Restructuring which created KAZ Minerals.
Andrew is a chartered accountant who began his career at Deloitte in London, where he provided audit and transaction services to several UK listed companies. Prior to joining the Company, Andrew worked in corporate development at GlaxoSmithKline plc. Business Model Andew steers Kaz Minerals business modelled around delivering value and not volume based on its new asets’s competitiveness on te global cost curve. Kaz Minerals has huge focus on Health and safety, Environment, Local communities, Employees, Corporate governance. The Group operates 3 underground mines, 3 open pit mines and 6 copper concentrators with a total processing capacity of 60 Mt per annum.
Reported Full year copper production1 increased by 14% to 294.7 kt (FY 2017: 258.5 kt) Copper production1 at upper end of 270-300 kt guidance, mainly due to strong performance from some operating units. Q4 copper production1 of 77.9 kt (Q3 2018: 77.2 kt), driven by Bozshakol and Aktogay mines. Full year gold production of 183.4 koz, above guidance range of 160-175 koz (2017: 178.7 koz). Acquisitions Under Andrew, Kaz Minerals has embarked on growth trajectory and has since completed acquisition of THE BAIMSKAYA COPPER PROJECT at a value of $436 Million Having ben with the company through its restructuring in 2014, Kaz Minerals came out as a high growth, low cost coper mining giant setting it as Kazakhstan’s highest profiles with great economic strength to deliver growth and value.
Key Mandate
Andrew has a mandate to deliver shareholder value based on he is following KPI’s. EBITDA (excluding special items), Free Cash Flow, Earnings per share based on Underlying Profit, Ore processed, Net cash cost of copper sold, Copper production, Maintenance spend per ton of copper cathode produced, Number of fatalities, Total Recordable Injury Frequency Rate (TRIFR) and Relevance. To achieve this, Andrew and his team seeks to target zero fatalities and reduce injury frequency rate ( currently standing at 1.6 (FY 2017) against an average mining industry rate of 3.94 (source International Mining and metals)), seek out expansion opportunities based in Kazakhstan resource base, evaluate mine life extensions and nearby greenfield site potential , Yubileyno-Snegirikhinsky mine site liquidation and seek operational efficiencies.

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