Central Asia Metals (CAML), the emerging copper producer, has completed the purchase of the remaining 40 per cent interest in its Kounrad copper project in Kazakhstan from Kenges Rakishev, a Kazakh businessman. The company continues to work on obtaining all the government waivers needed to officially facilitate the transfer.
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Taking 100 per cent ownership of the operation should allow Central Asia Metals to increase its already chunky dividend, as well as simplify the financing needs surrounding a potential capacity expansion at Kounrad. The tailings operation is currently producing at a peak rate of around 10,000 tonnes per annum.
