Central Asia Metals, a mining company with operations in Kazakhstan and North Macedonia, has announced that its copper production experienced a slight increase in the first half of 2023. However, zinc and lead production saw a decline during this period. The company remains confident in meeting its full-year production guidance.
In the first half of 2023, Central Asia Metals produced 6,716 metric tons of copper, showing a rise from the 6,617 metric tons produced in the same period in 2022.
Zinc and Lead Production
Zinc and lead production, on the other hand, experienced a decrease in the first half of the year. Zinc production declined to 9,764 tons from 10,465 tons, while lead production dropped to 13,734 tons from 13,827 tons.
Fulfilling Production Guidance
Despite the decline in zinc and lead production, Central Asia Metals remains on track to achieve its full-year production targets. The company aims to produce between 13,000 and 14,000 tons of copper, 19,000 and 21,000 tons of zinc, as well as 27,000 and 29,000 tons of lead.
As of June 30, 2023, Central Asia Metals reported a net cash balance of $50.6 million and no debt.
“This enables us to continue to pay some of the highest dividends in the sector whilst actively considering various business development opportunities,” stated Chief Executive Officer Nigel Robinson.
Upcoming Results Publication
Central Asia Metals is scheduled to release its results for the first half of the year on September 13.