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"
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