CAML's copper output at top-end of guidance
JOHANNESBURG (miningweekly.com) – The Kounrad copper operation, in Kazakhstan, has delivered at the top-end of its guidance and production from the Sasa zinc/lead mine, in Macedonia, was also in line with expectations, Aim-listed Central Asia Metals (CAML) reported on Monday.
The Kounrad dump leach, solvent extraction and electrowinning copper recovery plant produced 3 234 t of copper in the fourth quarter, taking full-year output to 14 103 t.
The company sold 14 181 t of copper cathodes in 2017, 3 516 t of which were sold in the fourth quarter.
CAML’s copper cathode production guidance for 2017 was between 13 000 t and 14 000 t and the firm has provided similar guidance for 2018.
The Sasa mine, which CAML bought for $402.5-million in November, produced 21 585 t of zinc and 29 881 t of lead last year. Of this, 3 625 t of zinc and 4 951 t of lead were attributable to CAML.
Sasa produces a zinc concentrate and a separate lead concentrate that contains silver. During 2017, Sasa sold 375 544 oz of payable silver. Owing to an existing streaming agreement with Osisko Gold Royalties, CAML will receive a base of $5/oz for its silver production for the life of the Sasa mine.
The company provided a 2018 guidance of 21 000 t to 23 000 t of zinc production and 28 000 t to 30 000 t of lead production.
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