5th Oct 2015 08:55
LONDON (Alliance News) - Central Asia Metals PLC on Monday reiterated production guidance for its Kounrad plant in Kazakhstan for its full year, despite seeing a reduction in copper output in its third quarter.
In the quarter to end-September, the company said it produced 2,966 tonnes of copper, compared to 3,337 tonnes a year before. Its production in the year to date is 8,410 tonnes, compared to 8,432 tonnes a year before.
Year to date sales were 7,699 tonnes, up from 7,055 tonnes a year before.
Central Asia Metals attributed its lower production to an unspecified operational incident on June 29 which led to a quantity of the plant's organic inventory being lost.
The company continues to expect production of 12,000 tonnes for 2015.
"Production for Q3 is slightly behind where we planned, but we are now over the June operational incident and the plant is back to its planned levels of output with record production achieved in September," said Chief Executive Officer Nick Clarke in a statement.
Shares in Central Asia Metals were down 1.3% at 157.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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