Central Asia Metals has been given the green light by authorities in Kazakhstan to begin an expansion project at its Kounrad copper recovery project. The approval allows the company to exploit the copper contained in the Western dumps.

CENTRAL Asia Metals is increasing capacity of the solvent extraction-electrowinning (SX-EW) copper recovery plant at its Kounrad project in Kazakhstan through a number of planned capital programs. The initial upgrade to the plant’s infrastructure will consist of the installation of two additional coal fired boilers at a capital cost of US$2.2 million, bringing boiler capacity to 14MW.

Alhambra Resources has been given permission by the Kazakhstan Ministry of Industry and New Technology (MINT) to reduce the floor price for a potential future equity financing. The government approval means the floor price of US$0.60 per common share can drop to US$0.20 per common share, and is now extended until June 25.

Alhambra Resources intends to complete a financing for up to Can$8.0 million in convertible notes, the proceeds from which will provide Alhambra with the working capital required to resume mining operations in Kazakhstan, reorganize its outstanding debts and prepare to resume its corporate development activities.

Alhambra Resources announces that it will not be able to file its annual audited financial statements, management’s discussion and analysis and CEO and CFO certificates, collectively, the 2014 Annual Audited Financial Statements, by the filing deadline of April 30, 2015 as prescribed by NI 51-102 - Continuous Disclosure Obligations. This is due to a current lack of funds to remunerate the corporation’s auditors.

Central Asia Resources is making progress in its bid to refinance and to restart mining operations at the Dalabai Gold Project.

Global uranium producer Cameco says it is anticipating a positive 2013, with a forecast total of 23.3 million pounds of uranium to be produced at its properties and half of that production already under contract for purchase.

Orsu Metals Corporation has received all final assay results for the 2014 scout drilling program at its Kogodai volcanogenic massive sulphide copper prospect in northeast Kazakhstan. The company says the results are encouraging with high grade copper sulphide mineralization identified.

Frontier Mining has agreed to sell its subsidiary FML Kazakhstan LLP, owner of the Naimanjal licence area, for US$30 million to Union Transnationale Miniere SA (UTM), subject to regulatory approvals in the Republic of Kazakhstan.

Frontier Mining aims to partner with an experienced, well capitalized operator at its Benkala Copper Project in Kazakhstan.

Alhambra Resources is proceeding with the financing agreement with Global Resources Investment Trust PLC for Can$5.0 million under the same terms and conditions as announced on November 12, 2013. The convertible note financing will provide Alhambra with the working capital it requires to resume mining operations and reorganize its outstanding debts.

An incident occurred on site at the copper cathode producing facility of Central Asia Metals’ Kounrad Copper Project on Friday, June 26, which will impact on production guidance for 2015 of 13,000 tonnes. No one was injured in the incident.

Kazax Minerals has entered into a formal amending agreement with Safin Element GmbH, the vendor of its 74.99% interest in the Lomonosovskoye LLP (LomoLP), for the rescheduling of outstanding consideration due to Safin under the terms of the share purchase agreement (SPA) dated December 19, 2011, as amended.

Kazax Minerals has completed its acquisition of a 75% share in the Lomonosovskove Limited Liability Partnership (LP) which holds exploration and production rights to an iron ore deposit in Kostanay Oblast.

Kazax Minerals intends to extend its current drilling program at the Lomonosovskoye Iron Project in Kostanay Oblast with a further 11 exploration holes. Six of these holes will be within the envelope of two adjacent projected pits and five holes will be outside this boundary. They will target magnetic anomalies and the presence of copper and zinc mineralization.

KazaX Minerals it has received consent from the Ministry of Investments and Development of Kazakhstan for the acquisition of the 25% interest in the Lomonosovskoye Iron Project held by SEC Tobol JSC.

Central Asia Metals has surpassed its production target for the first eight months of operation at the Kounrad copper project in southern Kazakhstan. Production for the 2012 calendar year since completion of the construction of the Kounrad plant was 6586 tonnes of copper – 14% above the company’s revised target of 5750 tonnes. 

Central Asia Metals has successfully commissioned additional solvent extraction and electro-winning (SX-EW) capacity at its Kounrad copper recovery plant in Kazakhstan. The SX-EW plant’s annual copper production capacity has been increased by 50% to 15,000 tonnes and the company is on track to achieve its 2015 production target of 13,000 tonnes.

Central Asia Metals is on track to meet its 2015 production target of 13,000 tonnes of copper from the Kounrad Copper Project after March quarter production was up by 23% on the corresponding quarter of 2014 and sales were up 26%. There were 2350 tonnes of copper produced in the quarter with 2233 tonnes sold through the company's offtake agreement with Traxys.

Central Asia Metals expects copper production to rise 18% in 2015 after meeting its 2014 target. The company’s SE-XW processing plant at Kounrad recovered 11,136 tonnes of copper from waste in 2014 and Central Asia Metals has increased its annual production target to 13,000 tonnes.