Central Asia Metals PLC Kounrad Production Milestone (1139K)
20 Aprile 2020 - 8:00AM
UK Regulatory
TIDMCAML
RNS Number : 1139K
Central Asia Metals PLC
20 April 2020
20 April 2020
CENTRAL ASIA METALS PLC
('CAML' or the 'Company')
Kounrad Production Milestone
CAML is pleased to announce that, on 18 April 2020, the Kounrad
copper recovery plant in Kazakhstan ('Kounrad') reached the
milestone of producing 100,000 tonnes of copper cathode. CAML
expects to produce copper at Kounrad until 2034.
Producing copper from waste since 2012
CAML's Kounrad copper resources are within the waste dumps that
were formed during prior mining activities of the Kounrad deposit,
which commenced in the 1930s. Since CAML's leaching operations
began in April 2012, Kounrad has achieved the following milestones
through producing copper from what was considered waste:
-- 100,000 tonnes of copper cathode have been produced to date
at Kounrad at a C1 cash cost of production averaging $0.55 per
pound (2012 - 2019)
-- Gross revenue of $601 million has been generated from copper sales (2012 - 2019)
-- Tax to the Government of Kazakhstan totalling $143 million has been paid (2012 - 2019)
-- Operations have supported a Kazakh workforce comprising 323
employees and 86 contractors (2019)
-- Donations of over $2 million have been made to the local communities (2012 - 2019)
Nigel Robinson, Chief Executive Officer, commented:
"We are delighted to have reached this significant milestone of
producing 100,000 tonnes of copper from Kounrad at costs that are
amongst the lowest in the world. We owe a debt of gratitude to the
on-site team led by General Director Pavel Semenchenko and guided
by our Technical Director, Howard Nicholson.
"While cases of COVID-19 continue to rise in Kazakhstan, there
are currently no diagnosed cases of the virus amongst our Kounrad
workforce or in the local town of Balkhash, and the production and
sales of our copper have not been interrupted. We have implemented
various health measures on the site, including issuing COVID-19
related personal protective equipment ('PPE'), reinforcing
government guidance and hygiene measures, and limiting visits to
site. Our operations at the Sasa mine in North Macedonia also
continue uninterrupted.
"We have recently committed to providing funding for an
electrical supply solution to the local Balkhash hospital, which
should help the healthcare teams maintain crucial medical
treatments in the case of power outages.
"During this difficult and uncertain time, the welfare of our
employees and contractors is our top priority."
For further information contact:
Central Asia Metals Tel: +44 (0) 20 7898 9001
Nigel Robinson, CEO
Gavin Ferrar, CFO
Louise Wrathall, Director of Corporate louise.wrathall@centralasiametals.com
Relations
Peel Hunt (Nominated Advisor and Tel: +44 (0) 20 7418 8900
Joint Broker)
Ross Allister
David McKeown
BMO Capital Markets (Joint Broker) Tel: +44 (0) 20 7236 1010
Thomas Rider
Neil Elliot
Blytheweigh (PR Advisors) Tel: +44 (0) 20 7138 3204
Tim Blythe
Megan Ray
Rachael Brooks
Note to editors:
Central Asia Metals, an AIM-listed UK company based in London,
owns 100% of the Kounrad SX-EW copper project in central Kazakhstan
and 100% of the Sasa zinc-lead mine in North Macedonia.
For further information, please visit: www.centralasiametals.com
and https://twitter.com/CamlMetals
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END
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