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(Sharecast News) - Central Asia Metals said on Wednesday that production across all three of its metals was ahead of the prior year in the first five months of 2026, as stronger copper and zinc prices supported profitability and cash generation.
The AIM-traded miner, which operates the Kounrad copper operation in Kazakhstan and the Sasa zinc-lead mine in North Macedonia, said Kounrad produced 5,141 tonnes of copper by the end of May, up from 4,953 tonnes in the same period last year.
Sasa produced 7,566 tonnes of zinc in concentrate over the same period, compared with 7,397 tonnes a year earlier, while lead in concentrate rose to 11,142 tonnes from 10,792 tonnes.
Central Asia Metals said average received copper prices had risen significantly, reaching $13,076 per tonne in the first five months of the year, compared with $9,377 per tonne in the same period of 2025.
The average received zinc price rose to $3,299 per tonne from $2,765, while the average received lead price slipped slightly to $1,934 per tonne from $1,952.
The company said treatment charges for lead concentrates were at historically low levels and had turned negative, boosting net revenues at Sasa.
Both operations remain on track to meet 2026 production guidance, with Kounrad expected to produce 12,000 to 13,000 tonnes of copper, Sasa expected to produce 18,000 to 20,000 tonnes of zinc in concentrate, and lead in concentrate forecast at 26,000 to 28,000 tonnes.
Central Asia Metals said Kounrad typically delivered a stronger second half because warmer weather benefited dump-leach operations, while the Sasa improvement programme was continuing with a focus on productivity.
The group also said maiden drilling programmes had been completed on schedule and within budget at two exploration projects in Kazakhstan. First results are expected in the third quarter.
Central Asia Metals has also signed an option agreement over an additional licence in the Tengiz Basin, a region of Kazakhstan considered prospective for sediment-hosted copper mineralisation.
The new licence targets multiple mineralised zones across an area of around three kilometres by six kilometres.
The company said shareholders had approved a final dividend of 7.5p per share for 2025 at its annual general meeting in May.
The dividend is payable on 29 June to shareholders on the register at 5 June.
Chief executive officer Gavin Ferrar said the group remained focused on production efficiency to take full advantage of the high metals prices it was receiving, including record copper prices.
"H1 2026 is shaping up to be a highly profitable and cash-generative period for the Group, supporting our stated dividend policy," he said.
Ferrar said Central Asia Metals had so far not experienced any supply-chain issues with raw materials or other inputs despite the wider geopolitical backdrop, adding that input prices remained normal.
He also said 2026 was proving to be an exciting year for the company's project pipeline, with drilling in Kazakhstan and a further phase of drilling funded at associate company Aberdeen Minerals' Arthrath project in Scotland.
Central Asia Metals is due to publish its first-half operational update in early July, followed by interim financial results in mid-September, when it also expects to declare its 2026 interim dividend.
At 0849 BST, shares in Central Asia Metals were up 1.17% at 132.74p.
Reporting by Josh White for Sharecast.com.
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