Central Asia Metals reported production of 4,968 tonnes of zinc in concentrate and 7,255 tonnes of lead in concentrate at its Sasa mine in North Macedonia during the third quarter of 2026. The company also achieved an average received zinc price of $3,841 per tonne, representing a 34% increase compared with the same period a year earlier.
The production figures refer to metal contained in concentrates rather than refined metal delivered to end users. Revenue depends on treatment charges, payable metal percentages, recovery rates, transportation and customer contracts, alongside mining performance and operating costs.
Zinc and Lead Face Different Market Conditions
Zinc demand is closely tied to galvanised steel, which is used in construction, transport, energy infrastructure and machinery. Its market outlook therefore depends on mined supply, European steel production and the economics of galvanising.
Lead has a different demand structure, driven largely by battery applications and secondary metal production. Higher lead-concentrate output does not necessarily indicate stronger prospects for refined zinc or zinc-intensive steel markets.
At Sasa, production performance also depends on underground development, ore dilution, grade variability and operating availability. Improvements in plant availability, grade control and flotation recovery can increase concentrate output within existing permits and infrastructure, although temporary increases in ore grade should not be treated as permanent gains in mine capacity.
Kounrad Adds Copper Production in Kazakhstan
Central Asia Metals also produced 3,454 tonnes of copper at its Kounrad operation in Kazakhstan during the quarter, adding another metal to its production portfolio. Kounrad’s solvent extraction-electrowinning (SX-EW) process differs from the underground sulphide mining and concentration operations at Sasa. Their processing costs, production economics and end markets are therefore not directly comparable.
Operating Costs and Recoveries Remain Key Indicators
Further assessment of Sasa’s performance depends on disclosures covering cash costs, capital expenditure, production guidance and actual output, as well as whether increased production reflects improved recovery rates or higher ore grades.
Realised prices provide an additional measure of performance because benchmark quotations may differ from contractual sales prices and payment schedules. Currency movements and energy contracts can also influence comparisons of operating results. For established mines across southeastern Europe, Sasa illustrates the role of modernisation and operating efficiency in production performance, while the differing demand drivers for zinc, lead and copper mean that each metal requires a separate assessment of market conditions.
