26th Sep 2013 11:49
LONDON (Alliance News) - Central Asia Metals PLC Thursday said pretax profits significantly increased in its first half as new equipment improved production at the company's key mines.
The AIM-listed copper, base and precious metals producer, with operations in Kazakhstan and Mongolia, said pretax profits increased to USD11.5 million from USD530,000 for the six months ended June 30.
The company said it increased its gross revenues to USD21.2 million from USD6.8 million as a new solvent extraction plant and dump leaching system allowed the company to work through an extremely cold winter.
Central Asia Metals more than doubled its production of cathode copper to 4,857 tonnes from 1,728 the previous year and it also said it is on track to produce 10,000 tonnes of copper in 2013.
Central Asia Metals shares were up 3.5% to 135.00 pence
By Tom McIvor; [email protected]; @TomMcIvor1
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