4th Jul 2016 08:36
LONDON (Alliance News) - Central Asia Metals PLC on Monday said its copper production and copper cathode sales were higher in the first half to the end of June.
Central Asia Metals said copper production in the second quarter from its Kounrad copper project in Kazakhstan rose 20% year-on-year, up to 3,701 tonnes from 3,093 tonnes a year earlier.
This helped first half copper production to rise 27% year-on-year to 6,908 tonnes, up from 5,444 tonnes in the first half of 2015.
Copper cathode sales in the first half also grew, rising 24% year-on-year to 6,355 tonnes from 5,120 tonnes.
The group said it is on track to meet its 2016 production guidance of 13,000 to 14,000 tonnes of copper. It added the stage 2 expansion of the Kounrad project is on schedule and under budget.
"We are delighted to report record half yearly production and sales figures from our Kounrad plant, while our Stage 2 Expansion work is progressing on schedule and under budget," said Nick Clarke, Central Asia Metals' executive chairman.
Central Asia shares were up 6.6% to 162.34 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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