Central Asia Metals Reports H1 2024 Operations Update
Central Asia Metals has released its H1 2024 operations update for the Kounrad copper recovery plant in Kazakhstan and the Sasa zinc-lead mine in North Macedonia.
In terms of safety performance, Kounrad reported zero lost time injuries (LTIs) while Sasa had one LTI. Production figures for H1 2024 revealed that Kounrad produced 6,608 tonnes of copper, and Sasa generated 9,014 tonnes of zinc-in-concentrate and 12,872 tonnes of lead-in-concentrate.
Financially, the group maintained a robust position with $56.4 million in cash as of 30 June 2024. The company remains on track to meet its full-year 2024 guidance for copper production at Kounrad, projected between 13,000 to 14,000 tonnes. However, Sasa’s production is expected to be at the lower end of the 2024 guidance, with zinc-in-concentrate between 19,000 to 21,000 tonnes and lead-in-concentrate between 27,000 to 29,000 tonnes.
Nigel Robinson, Chief Executive Officer, commented: "Kounrad performed well during Q2 2024, aligning H1 production with prior years despite challenging winter weather in Q1. Production at Sasa in both Q2 and H1 2024 was impacted by a modest reduction in mined tonnage, mainly due to the short-term challenges of transitioning to a new mining method. This transition, which continued during the quarter, will benefit the long-term sustainability of both the underground mine and its associated tailings storage facilities.
"We anticipate improved mined tonnage at Sasa during H2 2024 as the mining transition progresses. However, considering the production levels achieved in H1, we expect full-year production at Sasa to be towards the lower end of our previously announced guidance. Our H1 2024 financial results will be released on 10 September 2024, when we will also announce our interim dividend."
