Central Asia Metals plc has, after five year’s ownership, repaid the $187 million debt it needed to acquire the Sasa zinc-lead mine in North Macedonia.
FINANCES
The company is marking its fifth anniversary with a list of achievements during that time period.
On 6 November 2017, Central Asia Metals bought Sasa, which began production in 1966, for $402.5m and has since generated net revenue of $438.5m from sales (2017-H1 2022).
Sasa currently has a workforce of 712 people, of whom 99% are locally employed, and has paid the Government of North Macedonia $66.7m in tax (2017 – H1 2022).
ESGs
In 2021, Central Asia Metals established the Sasa Foundation to support local social development projects and has invested more than $1.7m in the local communities of Makedonska Kamenica (2017 – H1 2022)
The company uses solely renewable power from North Macedonian energy provider, EVN, and committed to specific Sasa-related sustainability targets.
These include 75% reduction in Sasa’s surface water abstraction by the end of 2026 and to store 70% of tailings in a more environmentally responsible manner, of paste backfill and dry stack tailings, by the end of 2026.
In 2024, Central Asia Metals will also report to Global Industry Standard on Tailings Management.
The company was previously fined for a leak in 2020 at the Sasa Tailings Storage Facility 4 (TSF4).
COMMITMENT
“It has been an eventful five years as we have got to know the Sasa team and understand the operation,” said chief executive Nigel Robinson.
“The team at CAML is committed to the Sasa mine and to North Macedonia for the future.
“As such, we are now investing in the cut and fill project to ensure maximum extraction of Sasa’s resources and a safe, environmentally responsible operation for the long term.
“The safety of our employees will always be our top priority and we will continue to support the socio-economic development of the local communities near our operation, as well as looking after the environment in which we operate.”