Central Asia Metals (AIM:CAML), the AIM-listed operator of copper and zinc-lead mines in Kazakhstan and North Macedonia, produced more of all three metals in the first half of 2026 than in the same period a year earlier, with sharply higher copper and zinc prices magnifying the operational improvement.
Kounrad copper output reached 6,304 tonnes, 1% ahead of the first half of 2025, driven by a leach pick-up grade of 1.45 grammes per litre against a forecast of 1.37 grammes per litre. Sasa delivered larger gains: zinc-in-concentrate of 9,094 tonnes (5% higher) and lead-in-concentrate of 13,312 tonnes (6% higher), with second-quarter zinc output alone running nearly 18% ahead of the same quarter in 2025.
Average received copper prices of $13,181 per tonne were 39% above the first half of 2025 level, while zinc averaged $3,349 per tonne, up 25%. Net cash at 30 June stood at $96.7 million.
"This production was achieved safely, with no lost-time injuries recorded in Q2 2026," said chief executive Gavin Ferrar, noting that Sasa's improvement reflects work begun after last year's comprehensive business review.
Full-year production guidance is reiterated: 12,000 to 13,000 tonnes of copper, 18,000 to 20,000 tonnes of zinc-in-concentrate, and 26,000 to 28,000 tonnes of lead-in-concentrate.
Assay results from maiden drilling at the Otyar and Yuzhnoe exploration projects in Kazakhstan are expected in the third quarter, as is completion of the Cygnus Metals acquisition, which adds the Chibougamau copper-gold project in Canada, scheduled to close in September.
