BAKU, Azerbaijan, February 23. Anglo Asian Mining PLC (Public Limited Company), the AIM (Alternative Investment Market) listed gold, copper, and silver producer, plans to increase gold production in Azerbaijan in 2024, the company’s press service told Trend.
According to the press service, the company anticipates this increase following the commissioning of the "Gilar" deposit.
“Drilling and resource estimation for Gilar will continue during 2023,” the company noted.
Besides, the company shared its plans to double the capacity of a flotation plant next year, enabling it to produce copper at the greater rate.
The PLC also said that the cost of the equipment (flotation plant) is approximately $10 million.
"It’s expected that 40 percent of the cost will be covered through Anglo Asian Mining funds, and the rest - through suppliers' funds,” added the company.
The main activity of Anglo Asian Mining in Azerbaijan is focused in Gadabay, and this year the "Zafar" deposit is planned to be commissioned in the Gadabay district. In addition, in the coming years, Anglo Asian Mining plans to put into operation such contract zones as "Garadagh", "Kharkhar" and "Damirli". On the liberated territories, the company has already started the exploration of the "Vezhnali" gold deposit in the Zangilan district.
Anglo Asian Mining mainly exports gold bars produced in Azerbaijan to Switzerland. Meanwhile, copper is exported to Georgia, Uzbekistan, and Türkiye.