Central Asia Metals plc reported no disruptions from recent unrest to its electro-winning copper recovery plant in Kounrad, Kazakhstan.
FINANCES
In its financial results for Q4 and full year 2021 for Kounrad and the Sasa zinc-lead mine in North Macedonia, the company said copper production was in line with expectations.
Central Asia Metals held cash in the bank on 31 December 2021 of $59.2 million.
Gross debt was $33.0m, including drawn North Macedonian overdraft facilities totalling $9.6m.
During 2021, the group repaid $48.4m of corporate debt.
KOUNRAD PRODUCTION
The company reported zero lost time injuries (LTIs) at Kounrad and four LTIs at Sasa during 2021.
Copper production at Kounrad was above guidance range with 14,041 tonnes produced.
| Metal production (tonnes) | Q4 2021 | 2021 | 2020 |
| Copper | 3,680 | 14,041 | 13,855 |
| Zinc | 5,133 | 22,167 | 23,815 |
| Lead | 6,469 | 27,202 | 29,742 |
SASA PRODUCTION
Zinc and lead production at Sasa was marginally below guidance range: zinc-in-concentrate production was 22,167 tonnes and lead-in-concentrate was 27,202 tonnes
The company said that challenging ground conditions coupled with an enhanced approach to underground safety risks resulted in short-term reductions in flexibility of working areas.
This led to a 1% shortfall in ore mined versus guidance and, in some cases, increased dilution which led to reduced zinc and lead head grades versus expected metal content.
Chef executive Nigel Robinson said the company had faced some challenges at Sasa during the year, which reinforced its decision to change to the cut and fill mining method.
| Units | Q4 2021 | 2021 | 2020 | |
| Ore mined | t | 203,802 | 818,609 | 826,421 |
| Plant feed | t | 203,803 | 830,709 | 820,215 |
| Zinc grade | % | 3.00 | 3.14 | 3.37 |
| Zinc recovery | % | 84.0 | 84.9 | 86.1 |
| Lead grade | % | 3.45 | 3.52 | 3.85 |
| Lead recovery | % | 92.0 | 93.1 | 94.3 |
| Zinc concentrate | t (dry) | 10,380 | 44,383 | 47,583 |
| – Grade | % | 49.5 | 49.9 | 50.0 |
| – Contained zinc | t | 5,133 | 22,167 | 23,815 |
| Lead concentrate | t (dry) | 9,037 | 37,893 | 41,289 |
| – Grade | % | 71.8 | 71.8 | 72.0 |
| – Contained lead | t | 6,469 | 27,202 | 29,742 |
GUIDANCE
Central Asia Metals issued copper production guidance of 12,500 to 13,500 tonnes, zinc-in-concentrate of 20,000 to 22,000 tonnes, and lead-in-concentrate of 27,000 to 29,000 tonnes.
The company expects group 2022 capital expenditure of between $28m and $30m, of which $11m to $13m is expected to be committed to sustaining capex.