Central Asia Metals climbs on ownership deal
Central Asia Metals has risen sharply this morning after announcing the "material" completion of its Kounrad copper mine in Kazakhstan.
Central Asia Metals has risen sharply this morning after announcing the "material" completion of its Kounrad copper mine in Kazakhstan.
The company is also set to acquire a 100% stake in the project after the government of Kazkhstan sold its 40% interest.
The firm says it expects production to begin in April, with Nick Clarke, the Chief Executive, emphasising that he will not need additional funding.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Kounrad is expected to produce around 10,000 tonnes per year of copper.
Central Asia's share price was up 7.28% at 11:46am after an initial jump of 11% in early trading.
Over the last 12 months the stock has lost 24% of its value.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Millions of over 50s fear pension investment risk – how should you position your portfolio?
To de-risk or not to de-risk, that is the question. Act too late and you could face irreversible losses. Move too early and miss out on significant gains that could transform your retirement.
-
£150 off energy bills: millions more to get discount this winter
The expansion of the Warm Home Discount scheme follows a government U-turn on the Winter Fuel Payment. We explain who will get the £150 discount