The average time to pay for KAZ MINERALS SALES LIMITED has fluctuated over the past three periods, with an initial decrease from 2018 to 2019, followed by an increase in 2020 and a slight decrease in 2021. However, there has been a significant increase in 2022 and 2023, with the average time to pay reaching its highest point of 64 days.
The volatility of KAZ MINERALS SALES LIMITED's payment times has been relatively low, with only a 50% increase from the lowest to highest point in the past three periods.
Between 2018 and 2023, KAZ MINERALS SALES LIMITED has seen a fluctuation in the average time to pay, with an initial decrease followed by an increase in recent years. However, the company has maintained a high percentage of invoices paid within 30 days, with a peak of 86% in 2022. The company's worst period for late payments was in 2022, where 86% of invoices were paid later than 60 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 59 | 17% | 42% | 41% | 42% |
| 01 Jan 2023 - 30 Jun 2023 | 18 Jul 2023 | 43 | 45% | 22% | 33% | 33% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 64 | 0% | 14% | 86% | 86% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 42 | 40% | 40% | 20% | 40% |
| 01 Jul 2021 - 31 Dec 2021 | 13 Jan 2022 | 40 | 43% | 29% | 28% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 09 Jul 2021 | 18 | 78% | 22% | 0% | 0% |
| 01 Jul 2020 - 31 Dec 2020 | 19 Jan 2021 | 29 | 55% | 45% | 0% | 9% |
| 01 Jan 2020 - 30 Jun 2020 | 14 Jul 2020 | 26 | 55% | 45% | 0% | 18% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 41 | 20% | 60% | 20% | 2% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 32 | 45% | 55% | 0% | 36% |
| 01 Dec 2018 - 31 Dec 2018 | 11 Jan 2019 | 22 | 77% | 23% | 0% | 15% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 14 | 86% | 14% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard terms for the qualifying contracts are 30 business days (so approximately 38 calendar days, depending on weekends and public holidays).
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
The qualifying contracts are all inter-company so any dispute would be resolved between the respective managers. Any residual issues would be escalated to the Chief Financial Officer.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
KAZ Minerals Sales Limited is a UK-registered company with a registered office in London, operating within the KAZ Minerals corporate group. Its registered activity is the wholesale of metals and metal ores. The wider group, KAZ Minerals, is a copper mining business operating large-scale open pit and underground mines in Kazakhstan and Kyrgyzstan, including the Aktogay, Bozshakol, East Region and Bozymchak sites, producing copper along with by-products such as zinc and precious metals. This entity's role sits within that group structure, supporting the sale and distribution of metals produced by the group's mining operations, rather than carrying out mining or processing activity itself.
Generated from the company's website and Companies House records. Sources: kazminerals.com