32.8 C
Supported byspot_img

Central Asia Metalks increase copper output in Kazakhstan mine

Member of Europium Groupspot_img
Supported byspot_img

Groundwork for the second phase of the expansion got underway in March, with first production from the Western Dumps at Kounrad expected in the first half of next year.

Central Asia Metals PLC produced 3,207 tonnes of copper from its Kounrad copper project in Kazakhstan during the first quarter of 2016, up a chunky 36.5% on the 2,305 tonnes produced in the corresponding period in 2015.

In turn, the company sold 2,550 tonnes during the period, up 14% on the 2,233 tonnes produced in the corresponding period of 2015.

Supported by

The increase in production comes in the wake of the first phase of a planned expansion programme to the plant at Kounrad, which Central Asia delivered on time and on budget during 2015.

Groundwork for the second phase of the expansion got underway in March, with first production from the Western Dumps at Kounrad expected in the first half of next year.

The company now expects to deliver between 13,000 and 14,000 of copper this year, depending on “seasonal variations.”

Winter can be quite harsh in Kazakhstan and can often hamper the operating efficiencies of mining companies. Historically though, Central Asia Metals has coped well with the Kazakh winter.

The strong production numbers in the most recent quarter were also helped along by unusually mild temperatures for the time of year.

Broker Finncap reiterated its 264p price target and buy recommendation.

Source: Proactive investors


Supported byElevatePR Digital

Related News

Boosting Egypt’s mining sector: Key agreements at Egypt Mining Forum

Minister of Petroleum and Mineral Resources Karim Badawi oversaw the signing of several significant cooperation agreements in the mining sector during the Egypt Mining...

Zinnwald Lithium bolsters production prospects with expanded mineral resource estimate

Zinnwald Lithium saw a significant surge in its shares on Friday following a 50% increase in the mineral resource estimate for its flagship project...

Driving Europe’s green and digital economy: The surge in critical raw materials demand

As Europe accelerates its transition towards a green and digital economy, the demand for Critical Raw Materials (CRMs) such as lithium, nickel, rare earth...

Mining giants challenge Australian environmental reforms over economic concerns

Recent documents obtained under freedom of information laws reveal that mining giants, including Hancock Prospecting and Rio Tinto, have lobbied the Albanese government to...
Supported by
Supported by
Supported by
error: Content is protected !!