Central Asia Metals announced acquisition of copper producer New World Resources

Central Asia Metals announced the acquisition of Australian-listed copper producer New World Resources in a deal valued $119 million. 

Analysts at RBC Capital Markets believe this will increase Central Asia Metals’ long-term copper production profile. The company plans to double its copper equivalent output. Experts estimate its current annual production at 25,000 tons, with the output expected to rise to 55,000 tons per year once New World Resources’ Antler project in North America is operational. 

The mine contains 543,000 tons of measured and indicated copper. Analysts forecast the project will produce 30,000 tons of the metal annually over 12 years, Investing.com says. 

The deal marks a major step forward for Central Asia Metals. However, RBC notes that key milestones remain. These include financing the capital expenditure, permitting, and completing a Definitive Feasibility Study.