CAML

TIDMCAML

Central Asia Metals PLC

07 November 2022

7 November 2022

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

CAML celebrates five years' ownership of Sasa

Central Asia Metals (AIM: CAML) is pleased to announce that it has now owned the Sasa zinc-lead mine in North Macedonia ("Sasa") for five years, having acquired the operation in November 2017.

Highlights:

   --      Sasa was acquired for a total of $402.5 million on 6 November 2017 
   --      CAML has now completely repaid the $187.0 million debt which was secured to acquire Sasa 
   --      Sasa employs 712 people of whom 99% are employed locally 

-- Net revenue of $438.5 million has been generated from zinc and lead sales (2017 - H1 2022)

   --      EBITDA generated from Sasa of $280.2 million (2017 to H1 2022) 
   --      Total capex of $52.0 million capitalised (2017 to H1 2022) 

-- Tax to the Government of North Macedonia totalling $66.7 million has been paid (2017 - H1 2022)

-- The Sasa Foundation was set up in 2021 to support social development projects in the local community

-- Community development funding of over $1.7 million has been invested to support the local communities of Makedonska Kamenica (2017 - H1 2022)

-- Cut and Fill Project is on schedule, with completion of the paste backfill plant construction expected in H1 2023 and the dry stack tailings component during H2 2023

   --      Sasa has sourced solely renewable power from North Macedonian energy provider, EVN 
   --      CAML has committed to specific Sasa-related sustainability targets: 

o 75% reduction in Sasa's surface water abstraction by the end of 2026

o 70% of tailings to be stored in a more environmentally responsible manner (paste backfill and dry stack tailings) by the end of 2026

o Report to Global Industry Standard on Tailings Management ("GISTM") in 2024

Nigel Robinson, Chief Executive Officer, commented:

"We are delighted to celebrate the five-year anniversary of our ownership of Sasa this week. It has been an eventful five years as we have got to know the Sasa team and understand the operation. The team at CAML is committed to the Sasa mine and to North Macedonia for the future. As such, we are now investing in the Cut and Fill Project to ensure maximum extraction of Sasa's resources and a safe, environmentally responsible operation for the long term.

"While we focus on our zinc and lead production, the safety of our employees will always be our top priority and we will continue to support the socio-economic development of the local communities near our operation, as well as looking after the environment in which we operate. 99% of our staff are Macedonian and we provide development opportunities for them at our Sasa Training Centre. Additionally, through our charitable body, the Sasa Foundation, we have contributed to projects including the development of the Youth Park in Makedonska Kamenica in 2021.

"We look forward to our future at Sasa, which will see our operation continue to offer local employment, facilitate socio-economic progress in the surrounding communities, and further optimise production safely."

For further information contact:

 
Central Asia Metals                 Tel: +44 (0) 20 7898 9001 
Nigel Robinson 
CEO 
Gavin Ferrar 
CFO 
Louise Wrathall                     louise.wrathall@centralasiametals.com 
Director of Corporate Development 
Emma Chetwynd Stapylton             emma.chetwyndstapylton@centralasiametals.com 
Investor Relations Manager 
 
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

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word "Reach" in the source column of the News Explorer pages of London Stock Exchange's website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRAFLFSLLTLEIIF

(END) Dow Jones Newswires

November 07, 2022 02:00 ET (07:00 GMT)

Central Asia Metals (LSE:CAML)
Gráfica de Acción Histórica
De Mar 2023 a Abr 2023

Central Asia Metals (LSE:CAML)
Gráfica de Acción Histórica
De Abr 2022 a Abr 2023