UPDATE 1-Kazakhmys Q4 copper output up 19 pct vs Q3
(Adds details, background)
LONDON, Jan 30 (Reuters) - Copper miner Kazakhmys Plc (KAZ.L) posted a 19 percent jump in fourth-quarter copper cathode output compared to the previous quarter, when the firm was hit by flooding at a mine and processing problems.
The firm, whose main operations are in Kazakhstan, said on Wednesday production of copper cathode for the three months to end December rose to 103,100 tonnes from 86,900 tonnes in the third quarter.
Last week, Kazakhmys Chairman Vladimir Kim told a business forum in Kazakhstan that sales rose 3 percent last year to $5.2 billion despite weaker copper output. Wednesday's production report gave no financial figures.
Full-year copper output fell 6.3 percent to 381,200 tonnes, down from 407,000 tonnes in 2006, a statement said.
Fourth-quarter zinc in concentrate output rose 0.5 percent to 31.6 million tonnes while full-year production increased 2.9 percent to 132,800 tonnes.
The firm warned in October that flooding at its South Mine in Zhezkazgan in September combined with slower pick-up in output from new concentrators would trim 2007 copper output.
On Wednesday, the firm said deliveries of equipment, which had been delayed and hit output, had improved towards the end of the year.
"We are looking forward to a positive year in 2008 with opportunities to grow production and to develop our programme for operational improvements. There are several new projects and upgrades to be carried out during 2008," Chief Executive Oleg Novachuk said.
Kazakhmys shares, which have lost 13 percent so far this year, closed on Tuesday at 11.93 pounds.
(Reporting by Eric Onstad, editing by Elizabeth Fullerton)
