Official Opening of Kounrad Project

RNS Number : 7330T

Central Asia Metals PLC

12 December 2011

 



12 December 2011

Central Asia Metals plc
("CAML" or the "Company")

Official Opening of Kounrad Project

Central Asia Metals plc (AIM: CAML) are pleased to announce that the Company's Kounrad copper project was officially opened on Friday 9 December by Mr Serik Akhmetov, the Governor of the Karaganda region. The ceremony was attended by senior CAML personnel and local government officials.

The ceremony was filmed and linked via satellite to the office of the President of Kazakhstan, Mr Nursultan Nazarbayev, as the Kounrad project is included in the national initiative of State Programme of Innovation and Accelerated Industrial Development of Kazakhstan for 2010-2014.  The television footage of the opening ceremony will form part of a report that will be broadcast on Kazakh national television on 16 December 2011, celebrating the 20^th anniversary of Kazakhstan's independence.

The Kounrad project, notwithstanding this official opening, has made significant construction progress and is firmly on track for cold commissioning in Q1 2012 with copper production Q2 2012.

Commenting on the official opening of the Kounrad site, Nick Clarke, CEO of CAML said:

"We are delighted to announce the official opening of the Kounrad site and are proud of the high profile status that the project has received.  However, there remains work to be done as the project is now entering the final phase of construction and we will be producing copper cathodes in Q2 2012 having completed the construction programme in just over 15 months and within the original budget of $47 million.  The significant progress at Kounrad and its inclusion in this important national initiative is a testament to all involved and a recognition of CAML's dedication to opening the first SX-EW plant in Kazakhstan."

Enquiries:

Central Asia Metals	Nick Clarke Nigel Robinson	[phone]
Canaccord Genuity Limited	Andrew Chubb Robert Finlay	[phone]
Mirabaud Securities LLP	Peter Krens	[phone]
Pelham Bell Pottinger	Charles Vivian Lorna Spears	[phone]

 

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