British company reports $80.8 million in half-year revenue from Kazakhstan

U.K.-registered Central Asia Metals Plc (CAML) earned $80.8 million in revenue from the Kounrad [Konyrat] copper operation in Kazakhstan’s Karaganda region in the first half of 2026. The asset remains the group’s main source of revenue, accounting for more than half of the total, according to the Telegram channel Finmentor.kz, citing CAML’s financial statements.

Amid higher metal prices and increased production, CAML’s total revenue rose 46% to $145.5 million, while pre-tax profit more than tripled, rising 203% to $59.3 million.

From January through June, the Kounrad operation produced 6,304 tons of copper, while the average realized copper price rose 39% to $13,171 per ton. The company’s second operating asset, the Sasa zinc-lead mine in North Macedonia, reported an increase in revenue from $46.5 million to $64.7 million. Zinc concentrate production at the Macedonian mine grew 5% to 9,094 tons, while lead production increased 6% to 13,312 tons.

CAML is also expanding its exploration activities. In Kazakhstan, the company completed its first drilling programs and secured an option on a new license in the Tengiz Basin. It plans to begin drilling between 2026 and 2027. The group also holds an 80% stake in CAML Exploration, a subsidiary responsible for exploration activities in the country.

Elsewhere, the British company intends to finance the next stage of its Arthrath project in Scotland and increase its stake in Aberdeen Minerals from 32.6% to 38.9%. CAML is also preparing to acquire Cygnus Metals Limited, which is developing the Chibougamau Project in Quebec, Canada, through an Australian scheme of arrangement. The deal is expected to close in early October and is valued at A$232 million.

In addition, CAML owns the solvent extraction-electrowinning (SX-EW) copper recovery plant at Kounrad, which was built between 2010 and 2012. The copper cathode produced on site is supplied mainly to customers in Turkey.

To date, Kounrad has produced more than 165,000 tons of copper cathode. With at least 85,000 tons of recoverable copper remaining as of the end of 2024, Kounrad is expected to maintain production through at least 2034, according to the company’s website