CAML finishes river remediation at Sasa mine

Central Asia Metals plc (CAM) has completed the river remediation works, so closing the tailings storage facility leakage issue at the Sasa zinc-lead mine in North Macedonia.

The announcement was part of CAM’s operational review of the first half of 2021 at the Kounrad dump leach, solvent extraction and electro-winning (SX-EW) copper recovery plant in Kazakhstan and at Sasa.

The company had no lost time injuries (LTIs) at Kounrad but three at Sasa with two in Q2 2021.

Covid-19 cases were recorded during the period under review at both Sasa and Kounrad, however both sites currently have none.

CAM also reported that deputy chairman Nigel Hurst-Brown will retire from the board as of 31 July 2021.

FINANCE

As at 30 June 2021, the group held cash in the bank of $54.4 million, gross debt (including $8.7m overdraft) of $60.9m with group corporate debt repayments of $19.2m.

Financial results for H1 2021 will released in September.

PRODUCTION

For H1 2021, Kounrad copper production was recorded at 6,214 tonnes and copper sales of 6,241; Sasa zinc in concentrate production was 11,292 tonnes; and Sasa lead in concentrate production at 13,807 tonnes.

Chief executive Nigel Robinson said that completion of the river remediation project to the satisfaction of all stakeholders was the highlight of H1 2021.

“We believe this draws a line under the tailings storage facility 4 incident, albeit with continued monitoring programmes remaining in place.

“The three LTIs at Sasa were of course a disappointment and lessons have been learnt from each of the incidents.

“Our copper production during the first half of the year at Kounrad was solid and we are firmly on track to meet our full year guidance.

“At Sasa, the Q1 2021 mill shutdown, coupled with additional ground support requirements, has resulted in slightly lower H1 2021 zinc and lead production than the prior comparative period.”