UK company seeks to boost copper output at Kazakh field
UK-based Central Asia Metals company focused on Kazakhstan and Mongolia plans to increase copper production at Kazakhstan's Kounrad field in 2013, Trend news agency reported referring to the company.
"Our Kounrad production objectives for 2013 are focused on an output of 10,000 tones of cathode copper and maintaining tight control on costs," Central Asia Metals' Chief Executive Officer Nick Clarke said.
The total copper output in 2012, which comprised only eight months of actual production following the completion of the construction phase in late April 2012, was 6,586 tones. The 2012 production target was exceeded by over 14 percent.
"2012 has proved to be a very successful first period of production for the company at Kounrad and I am particularly pleased that we have been able to continue the production of copper cathodes in the challenging weather conditions experienced from November 2012," Clarke said.
About 6,383 tones of produced copper were sold during the period, of which 6,063 tones were sold through the company's off-take arrangements with Traxys and 320 tones in Kazakhstan's local market.
Central Asia Metals plc is an AIM-listed company based in London. It is a copper production, precious and base metals exploration and development company with majority stakes in copper, gold and molybdenum projects.