First sales of Copper Cathode from SX-EW plant in Kazakhstan
Central Asia Metals plc (AIM:CAML) is pleased to announce the first sale of copper cathodes from its SX-EW copper plant at Kounrad, Kazakhstan. A total of 504 tonnes of copper has been sold to Traxys Europe S.A. on a spot contract. Operating from more than 20 global offices with over 250 employees, Traxys provides marketing, financing and logistical solutions for producers of base metals and concentrates, minor and alloying metals.
On 23 May 2012, the Board of Directors hosted a visit to the Kounrad SX-EW copper plant for mining analysts and the Company's professional advisers together with local government officials. The purpose of the site visit was to highlight the significant progress that has been made since completing construction and commencing the commissioning phase of the SX-EW plant.
Nick Clarke, Chief Executive Officer commented:
“It is a significant milestone that we have sold the first batch of copper cathodes and started to generate revenues from the Kounrad SX-EW plant. The commissioning phase of the SX-EW plant is progressing well and we are on track to achieve our 2012 production target of 5,000 tonnes"