CAML increases its 2020 copper guidance
Following a challenging month with the incident at the Sasa TSF4 in North Macedonia, Central Asia Metals Limited (CAML) CEO Nigel Robinson had some upbeat news for shareholders on Thursday – the company expects its zinc and lead production to meet its original guidance and its copper production will beat its original target.
The Aim-listed mining company hiked its copper guidance from between 12 500 t and 13 500 t for 2020, to a range of between 13 500 t and 14 000 t.
In the third quarter, the Kounrad mine, in Kazakhstan, produced 3 883 t, bringing output for the first nine months of 2020 to 10 490 t.
The increased guidance for the year is owing to a higher contribution from the Eastern Dumps, as pick-up grades have been better than projected in the initial production plan forecasts, CAML reported.
The miner also reiterated that its original zinc and lead production guidance from Sasa would be met. In January, CAML gave 2020 Sasa ore production guidance of between 825 000 t and 850 000 t, resulting in zinc in concentrate of between 23 000 t and 25 000 t and lead in concentrate of between 30 000 t and 32 000 t.
Robinson reported that CAML had made good progress on the environmental clean-up at Sasa.
On the deferred interim dividend, he said that CAML would update the market in this regard in the coming weeks. “However, our current focus remains on remediating the environmental aspects of the incident, completing the independent technical work on the causes of the leakage and returning the operation to 100% production.”
On September 14, there was a short-term leakage of about 8 000 m3 of tailings from Sasa's TSF4 into the local river.
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