RCS - Central Asia Metals - CAML celebrates five years’ ownership of Sasa

Central Asia MetalsAnnouncement

07/11/2022 07:00

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RNS Number : 4491F  Central Asia Metals PLC  07 November 2022

 

7 November 2022

 

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

CAML celebrates five years' ownership of Sasa

 

Central Asia Metals (AIM: CAML) is pleased to announce that it has now owned
the Sasa zinc-lead mine in North Macedonia ("Sasa") for five years, having
acquired the operation in November 2017.

Highlights:

·      Sasa was acquired for a total of $402.5 million on 6 November
2017

·      CAML has now completely repaid the $187.0 million debt which was
secured to acquire Sasa

·      Sasa employs 712 people of whom 99% are employed locally

·      Net revenue of $438.5 million has been generated from zinc and
lead sales (2017 - H1 2022)

·      EBITDA generated from Sasa of $280.2 million (2017 to H1 2022)

·      Total capex of $52.0 million capitalised (2017 to H1 2022)

·      Tax to the Government of North Macedonia totalling $66.7
million has been paid (2017 - H1 2022)

·      The Sasa Foundation was set up in 2021 to support social
development projects in the local community

·      Community development funding of over $1.7 million has been
invested to support the local communities of Makedonska Kamenica (2017 - H1
2022)

·      Cut and Fill Project is on schedule, with completion of the paste
backfill plant construction expected in H1 2023 and the dry stack tailings
component during H2 2023

·      Sasa has sourced solely renewable power from North Macedonian
energy provider, EVN

·      CAML has committed to specific Sasa-related sustainability
targets:

o  75% reduction in Sasa's surface water abstraction by the end of 2026

o  70% of tailings to be stored in a more environmentally responsible manner
(paste backfill and dry stack tailings) by the end of 2026

o  Report to Global Industry Standard on Tailings Management ("GISTM") in
2024

 

Nigel Robinson, Chief Executive Officer, commented:

"We are delighted to celebrate the five-year anniversary of our ownership of
Sasa this week. It has been an eventful five years as we have got to know the
Sasa team and understand the operation. The team at CAML is committed to the
Sasa mine and to North Macedonia for the future. As such, we are now investing
in the Cut and Fill Project to ensure maximum extraction of Sasa's resources
and a safe, environmentally responsible operation for the long term.

"While we focus on our zinc and lead production, the safety of our employees
will always be our top priority and we will continue to support the
socio-economic development of the local communities near our operation, as
well as looking after the environment in which we operate. 99% of our staff
are Macedonian and we provide development opportunities for them at our Sasa
Training Centre. Additionally, through our charitable body, the Sasa
Foundation, we have contributed to projects including the development of the
Youth Park in Makedonska Kamenica in 2021.

"We look forward to our future at Sasa, which will see our operation continue
to offer local employment, facilitate socio-economic progress in the
surrounding communities, and further optimise production safely."

For further information contact:

 Central Asia Metals                             Tel: +44 (0) 20 7898 9001
 Nigel Robinson
 CEO
 Gavin Ferrar
 CFO
 Louise Wrathall                                 louise.wrathall@centralasiametals.com
 Director of Corporate Development
 Emma Chetwynd Stapylton                         emma.chetwyndstapylton@centralasiametals.com
 Investor Relations Manager

 Peel Hunt (Nominated Advisor and Joint Broker)  Tel: +44 (0) 20 7418 8900
 Ross Allister
 David McKeown

 BMO Capital Markets (Joint Broker)              Tel: +44 (0) 20 7236 1010
 Thomas Rider
 Pascal Lussier Duquette

 BlytheRay (PR Advisors)                         Tel: +44 (0) 20 7138 3204
 Tim Blythe
 Megan Ray
 Rachael Brooks

Note to editors:

 

Central Asia Metals, an AIM-listed UK company based in London, owns 100% of
the Kounrad SX-EW copper project in central Kazakhstan and 100% of the Sasa
zinc-lead mine in North Macedonia.

For further information, please visit www.centralasiametals.com
(http://www.centralasiametals.com/)  and follow CAML on Twitter at
@CamlMetals and on LinkedIn at Central Asia Metals Plc

 

 

 

 

 

 

 

 

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