London-based Central Asia Metals Limited is officially the new owner of the Sasa mine in Macedonia, after the company on Monday concluded the acquisition of Lynx Resources and was readmitted to trading on Aim.
The $402.5-million acquisition has diversified CAML’s base metal production capabilities. The company’s previously production focus was on copper at its Kounrad solvent extraction and electrowinning facility in central Kazakhstan.
“The low-cost nature of Sasa complements our Kounrad operation and we look forward to our future with two long-life and cash-generative base metal operations in highly prospective jurisdictions,” commented executive chairperson Nick Clarke.
The Kounrad mine produced 14 020 t of copper in 2016. The Sasa mine produced 22 515 t of zinc concentrate and 28 955 t of lead concentrate.