Business
CAML celebrates five years' ownership of Sasa
CAML celebrates five years' ownership of Sasa.
About this update from Central Asia Metals Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 7 November 2022\n \n \n \n \n \n \n \n \n CENTRAL ASIA METALS PLC\n \n \n \n ('CAML' or the 'Company')\n \n \n \n CAML celebrates five years' ownership of Sasa\n \n \n \n \n \n \n \n \n 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.\n \n \n \n Highlights:\n \n \n \n ·\n Sasa was acquired for a total of $402.5 million on 6 November 2017\n \n \n ·\n CAML has now completely repaid the $187.0 million debt which was secured to acquire Sasa\n \n \n ·\n Sasa employs 712 people of whom 99% are employed locally\n \n \n ·\n \n Net revenue of $438.5 million has been generated from zinc and lead sales (2017 - H1 2022)\n \n \n ·\n EBITDA generated from Sasa of $280.2 million (2017 to H1 2022)\n \n \n ·\n Total capex of $52.0 million capitalised (2017 to H1 2022)\n \n \n ·\n Tax to the Government of North Macedonia totalling $66.7 million has been paid (2017 - H1 2022)\n \n \n ·\n The Sasa Foundation was set up in 2021 to support social development projects in the local community\n \n \n ·\n \n Community development funding of over $1.7 million has been invested to support the local communities of\n Makedonska Kamenica\n (2017 - H1 2022)\n \n \n ·\n 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\n \n \n ·\n Sasa has sourced solely renewable power from North Macedonian energy provider, EVN\n \n \n ·\n CAML has committed to specific Sasa-related sustainability targets:\n \n \n o \n 75% reduction in Sasa's surface water abstraction by the end of 2026\n \n \n o \n 70% of tailings to be stored in a more environmentally responsible manner (paste backfill and dry stack tailings) by the end of 2026\n \n \n o \n Report to Global Industry Standard on Tailings Management (\"GISTM\") in 2024\n \n \n \n \n \n \n Nigel Robinson, Chief Executive Officer, commented:\n \n \n \n \"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 operatio...