Production Update

RNS Number : 5848G

Central Asia Metals PLC

02 July 2012

 



2 July 2012

CENTRAL ASIA METALS PLC

("CAML" or the "Company")

Production Update from Kounrad Copper Project in Kazakhstan

Central Asia Metals plc (AIM:CAML), is pleased to announce its maiden production update from its recently constructed SX-EW copper plant at Kounrad, Kazakhstan.  The plant, which was constructed at a capital cost of $40 million, some 15% below budget, commenced production on 29 April 2012.  As at 30 June 2012, a total of 1,728 tonnes of cathode copper had been produced of which 1,386 tonnes had been sold and delivered to Traxys Europe SA. 

To date physical production of copper cathodes has exceeded management's expectations for this early stage of production as the plant is still under commissioning.  The plant is operating in accordance with the design capacity specifications and the assessed quality of the cathode copper has consistently met LME grade A quality standards.

Nick Clarke, Chief Executive Officer commented:

"The commissioning phase of the SX-EW plant is progressing well and several areas of the plant have been operating to 100% of their design capacity.  We continue to record higher than expected levels of copper in solution from the leaching process on the dumps albeit this is expected to stabilise over time.  I am personally delighted with the initial performance of both the leaching process and the SX-EW plant and am confident we will achieve our 2012 production target of 5,000 tonnes.

We have been developing our relationship with Traxys Europe SA and I am pleased that we have sold and delivered 80% of our first two months' production."

Enquiries:

Central Asia Metals plc                     Nick Clarke                   [phone]

                                                            Nigel Robinson           

Canaccord Genuity Limited              Andrew Chubb              [phone]
Rob Collins

Mirabaud Securities LLP                   Peter Krens                  [phone]

Pelham Bell Pottinger                       Charles Vivian             [phone]

Lorna Spears

 

END

 

 

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