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Central Asia Metals' Q3'16 copper cathode output at Kounrad up 38% YOY

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Central Asia Metals' Q3'16 copper cathode output at Kounrad up 38% YOY

Central Asia Metals Plc said Oct. 5 that its Kounrad copper operation in Kazakhstan produced 4,102 tonnes of copper cathode in the third quarter, 38% higher than its output of 2,966 tonnes in the third quarter of 2015.

Production for the first nine months of the year totaled 11,010 tonnes, up 31% year over year from 8,410 tonnes.

Sales for the nine-month period went up 38% year over year to 10,646 tonnes, from 7,699 tonnes, with the bulk of copper cathode sold through the company's off-take deal with Traxys.

Central Asia Metals expects to hit the upper end of its full-year guidance of between 13,000 tonnes and 14,000 tonnes of copper cathode.

The company also said the stage-two expansion of the Kounrad copper recovery plant is on schedule for completion in October and is approximately 25% below budget.