Proactive Investors - Run By Investors For Investors

UPDATE - Central Asia Metals hits record copper production at Kounrad

Central Asia Metals also provided guidance for the upcoming year
UPDATE - Central Asia Metals hits record copper production at Kounrad
he firm achieved record production of 12,071 tonnes of copper in 2015


Copper producer Central Asia Metals (LON:CAML) achieved record copper production last year from its Kounrad copper recovery plant in Kazakhstan.

The firm achieved record production of 12,071 tonnes of copper, slightly ahead of guidance of 12,000 tonnes and some 8.4% up on 2014’s 11,136 tonnes.

Costs were well broadly in line with the previous year at between US$0.65 and US$0.70 per pound of copper, though still far below the current copper spot price of US$2.09 per pound.

Central Asia Metals also provided guidance for the upcoming year, which will see production reduced to between 13,000 and 14,000 tonnes.

Slower leach rates means the plant will run at lower than the new full capacity of the site, but the completion of expansion work in May last year, ahead of schedule and below budget, will keep production higher than previously expected.

Nick Clarke, chief executive, said: “Once again, we are pleased to report record annual copper production in 2015 and to also provide production guidance for the year ahead.

“With our expansion plans to the western dumps commencing in March 2016, copper production is ensured for many years.”

Broker finnCap reiterated its ‘buy’ recommendation on the stock, adding that, now the company is in its fourth winter at Kounrad, “the company is well prepared for the extreme weather that is the norm on the steppe.”

Shares in Central Asia Metals lifted 1.3% to 149p by lunch.

View full CAML profile View Profile

Central Asia Metals Ltd Timeline

Related Articles

Mustang Resources' Christiaan Jordaan with investors at Proactive's CEO Sessions
October 06 2017
Christiaan Jordaan discussed rubies with investors at Proactive's CEO Session in Melbourne.
picture of wire
July 17 2017
The company has two core projects: T3 in Botswana and Kemco and a lead-zinc-silver project in Thailand
Royal Road Minerals' Nicaraguan ambitions starting to take shape
September 06 2017
Caza, which it has now bought, controlled land in the highly prospective but undeveloped gold belts of Nicaragua

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use