Kazakh miner Kazakhmys posted annual copper production in line with its target and said it expected 2012 output to come in at a similar level.

Kazakhmys, the world's 11th largest copper producer, posted 2011 output of 299,000 tonnes of copper cathode from its own concentrate, broadly in line with its target of 300,000 tonnes.

FTSE 100 company Kazakhmys also reported better-than-expected production of by-products gold and silver.

We anticipate maintaining similar levels of copper output in 2012 and our sales contracts for the coming year have all been completed, reflecting continued strong demand for copper, Chief Executive Oleg Novachuk said in a statement on Thursday.

The price of copper, a metal used in power and construction, dropped 25 percent in the fourth quarter touching a low of $6,635 per tonne in October, before rebounding in January and reaching a four-month high earlier this week.

Shares in Kazakhmys, which have climbed 19 percent in the past month, closed at 1,113 pence on Wednesday, valuing the company at about 5.9 billion pounds ($9.20 billion).