CAML defers dividend decision pending clarity on tailings leak
London-listed Central Asia Metals has deferred its dividend decision and is reviewing its zinc and lead production guidance, after a tailings storage facility leak earlier in the week at its Sasa facility, in Northern Macedonia.
The company planned to reinstate its dividend, but has now delayed declaring an interim dividend because of Monday’s leak at Sasa’s TSF4, which resulted in the suspension of processing activities.
The miner explained that it is waiting to determine what the likely cost and timing would be to rectify the issue at TSF4.
“Of most importance, no one was harmed in the incident and we now have the situation under control," said CEO Nigel Robinson.
"Site management are working with the authorities to understand the root cause so we can repair the facility and ensure that we can safely operate again. Based on the initial information available, we consider the likelihood of an extended shutdown of the processing plant to be low."
Nevertheless, CAML’s production guidance for zinc and lead is under review. The company previously guided zinc output of between 23 000 t and 25 000 t, and lead production of 30 000 t to 32 000 t.
CAML’s copper production, from the Kounrad mine remained on track to achieve its guidance of 12 500 t to 13 500 t.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation