21 May 2015
CENTRAL ASIA METALS PLC
("CAML" or the "Company")
Kounrad Expansion Update
Central Asia Metals plc (AIM: CAML), a copper producing company, is pleased to announce the successful commissioning of additional solvent extraction and electro-winning (SX-EW) capacity at its Kounrad copper recovery plant in Kazakhstan.
Summary:
· Stage 1 Expansion completed ahead of schedule and within budget
· Kounrad SX-EW plant's annual production capacity increased to 15,000 tonnes of copper
· On track to achieve 2015 production target of 13,000 tonnes of copper
Less than a year after the start of the Stage 1 Expansion programme, the SX-EW extension has been successfully commissioned. The internally funded $13.4 million programme included construction works and equipment installation for the extended SX-EW facilities, all undertaken by Company personnel. The extra mixer-settler tank has increased the plant's solution treatment capacity by 33 per cent to 1,200 cubic metres per hour, and the additional 24 electro-winning cells have increased the plant's daily plating capability by 42 per cent to 50 tonnes of copper. The infrastructure upgrade also included the installation of an additional 10MW transformer substation.
This Stage 1 Expansion and additional 5.6MW boiler capacity installed towards the end of 2014 have increased the plant's name-plate annual capacity from 10,000 to 15,000 tonnes of cathode copper. The Company remains firmly on track to achieve its 2015 production target of 13,000 tonnes of copper, and 15,000 tonnes in 2016.
Nick Clarke, CEO commented:
"The completion and successful commissioning of the expanded plant at Kounrad is another important milestone achieved by the Company in its development of the project. The credit for this noteworthy achievement is principally due to our dedicated team in Kazakhstan whose hard work, diligence and expertise made it possible to accomplish the expansion on time and within budget. The Company's main focus is now on implementing the Stage 2 Expansion programme, the approvals process for which is proceeding as scheduled, and on continuing to actively seek growth opportunities in Central Asia and other regions."
For further information contact:
Central Asia Metals plc |
Tel: +44 (0) 20 7898 9001 |
Nick Clarke, CEO Nigel Robinson, CFO |
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Peel Hunt LLP (Nominated Adviser & Joint Broker) |
Tel: +44 (0) 20 7418 8900 |
Matthew Armitt Ross Allister |
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Mirabaud Securities LLP (Joint Broker) |
Tel: +44 (0) 20 7878 3362 |
Peter Krens |
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Bell Pottinger |
Tel: +44 (0) 20 3772 2500 |
Lorna Cobbett |
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Note to editors:
Central Asia Metals, an AIM-listed UK company based in London, owns 100% of the Kounrad SX-EW copper facility in Kazakhstan. The Company also has a 53% equity interest in Copper Bay Ltd, which is a private company conducting a pre-feasibility study of the Chañaral Bay Copper Project in Chile. At the 2014 UK Stock Market Awards, CAML was named Best Basic Resources Plc. For further information, please visit www.centralasiametals.com.
