Sunkar Resources jumps 71.17% on partial repayment of ATF loans
The Board of Sunkar Resources plc (AIM:SKR) announces on June 27th, 2012 that its wholly owned subsidiary, Temir Service LLP has repaid a total of $2.5 million to ATF Bank Kazakhstan scheduled for repayment before 01 July 2012 in accordance with the terms of the refinancing announced on 10 May. This news made the stock price jump 71.1% yesterday.
The Company is planning to pay the remaining $2.5mn by December 31, 2014 in monthly installments.
29 June 2012
Central Asia Metals Seeks To Ship First Copper Cathode Next Week
Central Asia Metals Plc (CAML), which two weeks ago began copper output at a project in Kazakhstan, plans to ship its first metal next week to a customer in Turkey.
The company is completing an off-take accord with a trader to ship the metal, Chief Executive Officer Nick Clarke said in a phone interview today in London. He declined to name the trader or the customer because agreements haven’t yet been signed.
23 May 2012
Central Asia Metals makes strong progress at Kounrad
According to 2011 results released by Central Asia Metals (CAML) on April , the company has achieved 'material' completion of construction at its Kounrad copper project and has started the commissioning of the project in February.
20 April 2012
Kazakhmys to raise Balkhash concentrator throughput to 10.7Mt by 4Q2012
Kazakhmys expects to complete the modernization of the Balkhash concentrator until the year end, reported local news agency Kaztag citing the company's COO, Mr. Diachenko.
To accommodate the processing of additional ore from the reopened Kounrad mine, the throughput capacity of the concentrator will be increased to 10.7Mt. This year Kazakhmys has also started modernization of Nikolaevskoye concentrator, which will allow to improve metal recovery rates by 7-10%, increasing the annual throughput capacity from 1.7Mt to 2.2Mt. Kazakhmys expects to spend $100mn on the modernization of the two concentrators.
09 April 2012
Frontier Mining Targets $1 Billion Market Value on Kazakh Copper
Frontier Mining Ltd. (FML) is targeting an eight-fold increase in its market capitalization to $1 billion by 2014 after the U.K. explorer starts copper production in Kazakhstan later this year. Frontier is seeking to become the second-biggest copper producer in Kazakhstan after Kazakhmys Plc (KAZ), Chief Executive Officer Erlan Sagadiev said yesterday in an interview in London. Production is slated to begin by June and reach as much as 5,000 metric tons of copper this year before ramping up to 20,000 tons in 2014, he said.
14 March 2012
Kazakhmys announces $1.5 billion loan facility to fund Aktogay project
On 13 June 2011, Kazakhmys PLC (“Kazakhmys”) announced that it had signed a memorandum of understanding with the China Development Bank Corporation (“CDB”) for a $1.5 billion loan facility (the “Facility”), to be used for the development of the major copper project at Aktogay. The Facility was signed on February 16, 2012 in Urumqi, China.
28 February 2012
Hambledon Mining to raise a $9.06mn from share placement
Hambledon mining, a gold mining and exploration group, which is operating the Sekisovskoye gold mine close to Ust Kamenogorsk in East Kazakhstan will proceed the placing announced on February 1, 2012 to raise US$ 9.06 million. The application to the London Stock Exchange f or admission to trading on AIM for 177,507,699 ordinary shares has been made and dealings are expected to commence at 8.00 am on 20 February 2012.
20 February 2012
Central Asia Metals completed the Kounrad processing plant and secured a deal with SAT Group
On February 2, 2012, Central Asia Metals (CAML) announced that it completed the construction of the SX/EW plant with the processing capacity of 10ktpa at its flagship Kounrad project. The construction lasted for 16 months and the total plant cost came below the budgeted $46.9mn in the bankable feasibility study of the project. The commissioning of the plant is scheduled at the end of February, while the first copper production is expected to start in April 2012. The company plans to produce 5ktpa of copper cathode in 2012.
07 February 2012
Frontier Mining completed South Benkala Acquisition
Frontier Mining Ltd (AIM: FML), the AIM quoted copper exploration and development company focused on Kazakhstan, is pleased to announce it has completed the acquisition of South Benkala, previously announced on 9 May 2011.
KazCopper LLP, Frontier’s wholly owned subsidiary through which it holds the Benkala license, has received final approval from both the Ministry of Industry and Trade of Kazakhstan and the Inter-Ministerial Committees, enabling the Company to complete the purchase and transfer of the Subsurface Use Contract for the South Benkala mineral deposit from PromSnab2030 LLP to KazCopper LLP. Now that the amendments to the Subsurface Use Contract have been approved and the consideration of $2.5 million paid, the purchase is now complete.
24 January 2012
EBRD may provide up to $21mn to Hambledon Mining
According to the announcement by Hambledon Mining on January 12, 2012, EBRD may provide up to $21mn funding ($15mn debt facility, $3mn equity and EBRD may receive warrants for a total of $2mn) for further development of Sekisovskoye underground mine and for the company's other growth projects. The final approval for the investment is to be received in the middle of 1Q2012.
17 January 2012
Frontier borrows $29mn from Sberbank
On January 12, 2012, Frontier Mining announced that its wholly owned subsidiary, KazCopper LLP signed a loan agreement with Sberbank for a total of $29mn. The facility is broken down in two components - a four-year, $20mn investment loan used to repay the company’s existing loans from HSBC Kazakhstan and to fund further expansion of Benkala project, and a three-year, $9mn working capital facility. The investment part of the loan bears an annual interest rate of 9%, while the working capital facility has a variable rate of 7.5-8.5%.
17 January 2012
Kazakhmys to invest $500 million to implement Bozshakol project in 2012
These funds will be spent on the construction of the deposit’s basic infrastructure, which is scheduled to start in the second quarter of 2012.
Kazakhmys group’s capital expenditures to develop the Bozshakol deposit in 2012 are estimated at 500 million US dollars. Bozshakol, located in the Pavlodar region in Kazakhstan, is a new project and is situated not far from existing facilities of transport and energy infrastructure. The deposit’s mineral resource reserves stand at 1.173 billion tons with an average amount of copper at 0.35%.
22 December 2011
China pipes home 16.9 bcm of Central Asian gas - CNPC
Nov 3 (Reuters) - China has pumped 16.88 billion cubic metres of natural gas from Central Asia since the startup of a massive transnational pipeline in late 2009, operator China National Petroleum Corp (CNPC) said on Thursday.
10 November 2011
Kazakh Grain Harvest More Than Doubles to 29.5 Million Tons
Kazakhstan’s grain harvest is 29.5 million metric tons, more than double last year, the Agriculture Ministry said. The crop was harvested from 99.9 percent of the planted area as of today, the ministry said on its website. The harvest was 13.8 million tons at this time last year, it said.
10 November 2011
New beginnings in Central Asia
Recent deals by local private equity funds indicate that the combination of the global crisis and the subsequent recovery is finally opening up new opportunities for private equity in Kazakhstan and the wider Central Asian region.
07 November 2011
Kazakhstan cement market increased by 11% in 9M 2011
For the first 9 months of 2011, the cement market in Kazakhstan increased by 11% compared to the corresponding period in 2010. Steppe Cement estimates the cement market for 2011 to be 6.3 million tons.
Imports into Kazakhstan declined to 15% from 20% in the corresponding 9-month period in 2010 and Steppe Cement’s market share was similar to the one in 2010.
18 October 2011
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