Central Asia Metals PLC Kounrad celebrates 10-year production anniversary
03 Mayo 2022 - 1:02AM
RNS Non-Regulatory
TIDMCAML
Central Asia Metals PLC
03 May 2022
3 May 2022
CENTRAL ASIA METALS PLC
('CAML' or the 'Company')
Kounrad celebrates 10-year production anniversary
Central Asia Metals (AIM: CAML) is pleased to announce that, on
30 April 2022, the Kounrad dump leach, solvent extraction and
electro-winning ('SX-EW') copper recovery plant in Kazakhstan
('Kounrad') reached its 10-year production milestone. CAML expects
to produce copper at Kounrad until 2034.
Producing copper from waste since 2012
CAML's Kounrad copper resources are waste dumps that were formed
during prior mining activities of the Kounrad deposit, which
commenced in the 1930s. Since CAML's leaching operations began 10
years ago in April 2012, Kounrad has achieved the following
milestones:
-- 127,165 tonnes of copper cathode have been produced (to 31
March 2022) at an average C1 cash cost of production that is very
low by industry standards at $0.55 per pound (2012 - 2021)
-- Gross revenue of $820.7 million has been generated from copper sales (2012 - 2021)
-- Tax to the Government of Kazakhstan totalling $192.9 million has been paid (2012 - 2021)
-- Operations have supported a Kazakh workforce comprising 323
employees and 92 contractors (2021)
-- The establishment of the Kounrad Foundation charity in 2018
-- Development funding of over $2.3 million has been invested to
support the local communities of Kounrad and Balkhash (2012 -
2021)
Nigel Robinson, Chief Executive Officer, commented:
"We are delighted to have reached another significant milestone
at Kounrad. In the 10 years since we began production at our
Kazakhstan site, our first producing operation, we have produced
127,165 tonnes of copper cathode.
"It is important to highlight that this volume of copper, a
metal critical to the green energy transition and urbanisation, has
been recovered from what is essentially a waste material at costs
that have consistently been amongst the lowest in the world.
"We look forward to the next 10 years at Kounrad, which will see
our operation continue to offer local employment and facilitate
socio-economic progress in the surrounding communities. In the near
future, we hope to enhance our operations by constructing a solar
power plant at Kounrad and, having completed a scoping study and
received Board approval for building this project last year, we are
now in the process of detailed engineering design."
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
Pascal Lussier Duquette
BlytheRay (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 follow CAML on Twitter at @CamlMetals and on LinkedIn at
Central Asia Metals Plc
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