Central Asia Metals releases tailings storage compliance document

Central Asia Metals

156.00p

08:34 14/11/24

-2.50%

-4.00p

Central Asia Metals released a public disclosure document concerning the management of tailings storage facilities (TSFs) at its Sasa zinc-lead mine in North Macedonia on Tuesday.

The AIM-traded firm said the document, resulting from a three-year work programme completed on schedule, aligned it with the Global Industry Standard on Tailings Management (GISTM), marking its conformance with the pioneering global standard.

It explained that the GISTM was structured around 15 core principles that span six key areas, including the impact on potentially affected communities, design and construction protocols, facilities management, and planned emergency responses.

The disclosure document specifically pertained to the Sasa mine, which is the only operation within the CAML group with TSFs.

An independent audit by the international consultancy Knight Piésold verified CAML's adherence to the GISTM.

While compliance with GISTM was not legally mandated for CAML, it was required for members of the International Council on Mining & Metals (ICMM), which includes 24 of the world’s largest mining companies.

CAML said it had chosen to adopt GISTM voluntarily, underscoring its commitment to safe and sustainable mining practices.

Looking forward, the company said the Sasa mine was transitioning its tailings storage to a predominantly paste fill system as part of its revised underground mining method, supplemented by dry-stack tailings (DST).

The placement of cemented tailings as paste fill was already underway, and the deposition of DST was scheduled to start in the second half of 2024.

“Three years ago the CAML board took the voluntary decision to bring the group's TSFs into conformance with GISTM, thereby demonstrating our continued commitment to international best practice,” said chief executive officer Nigel Robinson.

“We place the highest priority on the health and safety of our workforce and the communities in which we operate, and we believe today's announcement underlines the high standards that we set ourselves in this regard.”

At 1211 BST, shares in Central Asia Metals were down 1.32% at 199.82p.

Reporting by Josh White for Sharecast.com.