Central Asia Metals plc produced a record 12,071 t of copper at its Kounrad dump leach, solvent extraction and electro-winning copper recovery plant, in Kazakhstan, in 2015, an 8.4% increase on 2014.
Q4 15 production was 3,661 t of copper, representing a 36% increase from Q4 14.
The company sold 12,040 t of copper cathode during 2015, up 8% from the previous year, predominantly through off-take arrangements with Traxys, which has been retained as CAML’s offtake partner through to 31 December 2018.
The company has guided 2015 C1 cash costs of between US$0.65-US$0.70/lb, down from US$0.74/lb for H1 2015, due to a combination of efficiency improvements, increased copper production and the devaluation of the local currency.
The company is now targeting increased copper production for 2016 to between 13,000 and 14,000 t, a level which it expects to maintain in the longer term.
CAML will release its 2015 annual results in April 2016, when it will declare its final dividend. The interim dividend was 4.5 GBp/share.
As at 31 December 2015, CAML had cash of US$42 million.
Record copper production for Central Asia Metals in 2015: CAML