Central Asia Metals Plc achieved record copper production in 2015 year from its Kounrad copper recovery plant in Kazakhstan. The AIM-listed company produced 12,071 tonnes of copper, slightly ahead of guidance of 12,000 tonnes and 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.
The company has also provided guidance for 2016 which will see production of 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 completion of expansion work in May 2015, ahead of schedule and below budget, will keep production higher than previously expected.
CEO Nick Clarke 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.”
Central Asia Metals is based in London and its main countries of operation are Kazakhstan and Mongolia. It is a precious and base metals mining, exploration and development company with majority stakes in copper, gold and molybdenum projects throughout Central Asia.