CEO Today United Kingdom Awards

www.ceotodaymagazine.com 16 CEO Today United Kingdom Awards 2018 BASIC MATERIALS NICK CLARKE CEO of CENTRAL ASIA METALS FIRM PROFILE CENTRAL ASIA METALS (CAML) IS A BASE METALS PRODUCER LISTED ON LONDON’S AIM MARKET WITH COPPER OPERATIONS IN KAZAKHSTAN AND A ZINC AND LEAD MINE IN MACEDONIA We are based in London and own 100% of the Kounrad solvent extraction and electrowinning (SX- EW) copper facility in central Kazakhstan, 100% of the Sasa zinc and lead mine in Macedonia and 80% of the Shuak copper exploration project in northern Kazakhstan. We were incorporated in the United Kingdom and raised $60 million at IPO in September 2010, which was used to build the Kounrad recovery plant in central Kazakhstan. Construction of the Kounrad plant was completed in early 2012, 15% below budget. Copper production commenced in April 2012, and annual production has since increased to in the order of 13,000 to 14,000 tonnes. In September 2015, we reached the milestone of having returned to shareholders, through dividends and share buybacks, amounts in excess of those raised at IPO. In November 2017, we completed the acquisition of the Sasa zinc and lead mine in Macedonia for a total consideration of $402.5 million. We now move forward as a low cost, diversified base metals producer, with capacity to generate annual copper production of up to 14,000 tonnes, lead production of up to 30,000 tonnes and zinc production of up to 23,000 tonnes. OUR STRATEGY IS BASED ON DEVELOPINGAND MANAGING PROFITABLE BASE METALS PROJECTS FOR THE BENEFIT OF ALL OF OUR STAKEHOLDERS Central to our strategy is maintaining low cost operations. We have consistently remained in the lowest cash cost quartile for copper production at Kounrad and are confident that our copper equivalent costs, including zinc and lead production from Sasa, will remain highly competitive by industry standards. As a result of our low cost, cash generative Kazakhstan operations and the inclusion of Sasa into our portfolio, we have now returned to shareholders through dividends and share buybacks $129 million. EMPLOYEES AT KOUNRAD, KAZAKHSTAN Our 2017 acquisition of the Sasa mine has resulted in: • CAML’s geographical, operational and commodity diversification: The acquisition of Sasa provided the Company with two low operating cost, long life, and cash generative base metal mines in highly prospective jurisdictions. CAML offers investors exposure to a range of base metals with attractive fundamentals, and the low cost nature of these combined operations should ensure the Company remains well positioned throughout the commodity cycle. • CAML ownership of two cash generative assets to support the dividend policy: Both Kounrad and Sasa are expected to be highly cash generative and should enable the Company to remain one of the leading dividend payers in the sector. From 2018, the CAML dividend policy is to return to shareholders a target range of between 30% and 50% of free cash flow, defined as net cash generated from operating activities less capital expenditure. • Operational growth opportunities: Sasa has significant Inferred Mineral Resources and other brownfield exploration targets that offer potential for growth in terms of production levels and the life of the mine. ABOUT NICK CLARKE Nigel is a member of the Institute of Chartered Accountants in England & Wales and was formerly a Royal Naval Officer in the Fleet Air Arm. Upon leaving the Royal Navy, he qualified with KPMG where he stayed for a further three years before leaving to work in commerce. He worked for six years in management with British Airways before leaving in 2002. He joined CAML in 2007, became CFO of the Group in 2009 and has been instrumental in developing the business. In April 2018, he was appointed Chief Executive Officer.