Central Asia Metals 2016 Copper Production Hits Record Level
Central Asia Metals PLC on Thursday said its copper cathode production hit a record level for 2016, despite a decline reported in the fourth quarter.
The firm, which runs the Kounrad copper project in Kazakhstan, said its copper cathode production in 2016 was 14,020 tonnes, up 16% from the 12,071 tonnes produced in 2015. In the fourth quarter, copper cathode production was 3,010 tonnes, down from 3,661 tonnes a year prior.
Copper sales for 2016 hit 13,938 tonnes, up from 12,040 tonnes a year before.
The group anticipates producing between 13,000 and 14,000 tonnes of copper in 2017.
The stage 2 expansion of the Kounrad project is now largely complete, the company said, and copper production from the western dumps area will start in the second quarter of 2017.
“In an improved copper price environment and with all major capital at Kounrad expended, we are optimistic about the future,” said Executive Chairman Nick Clarke.
Central Asia Metals shares were up 1.4% to 235.33 pence early Thursday.