Central Asia Metals (CAML) is a base metals producer listed on London’s AIM market with copper operations in Kazakhstan and a zinc and lead mine in Macedonia

We are based in London and own 100% of the Kounrad solvent extraction and electrowinning (SX-EW) copper facility in central Kazakhstan, and 80% of the Shuak copper exploration project in northern Kazakhstan. We recently became the 100% owner of the Sasa zinc and lead mine in Macedonia.

We were incorporated in the United Kingdom and raised $60 million at IPO in September 2010, which was used to build the Kounrad recovery plant in central Kazakhstan. Construction of the Kounrad plant was completed in early 2012, 15% below budget. Copper production commenced in April 2012, and annual production has since increased to in the order of 14,000 tonnes. In September 2015, we reached the milestone of having returned to shareholders, through dividends and share buybacks, amounts in excess of those raised at IPO.

In November 2017, we completed the acquisition of Lynx Resources, owner of 100% of the Sasa zinc and lead mine in Macedonia for a total consideration of $402.5 million.

We now move forward as a low cost, diversified base metals producer, with capacity to generate annual copper production of up to 14,000 tonnes, lead production of up to 29,000 tonnes and zinc production of up to 23,000 tonnes.


tonnes of record annual copper production in 2016

Key Figures

CAML (100% Kounrad) Lynx Resources (100% Sasa)
2016 H1 2017 2016 H1 2017
Production 14kt Cu 7kt Cu 23kt Zn

29kt Pb

11kt Zn

15kt Pb

C1 cash cost  ($/lb) 0.43 (Cu) 0.45 (Cu) 0.43 (Zn eq) 0.39 (Zn eq)
Revenue ($m) 69 39 79 55
EBITDA ($m) 39 24 30 34
Margin (%) 56 62 38 61