BAKU, Azerbaijan, April 17. Anglo Asian Mining (AAM) PLC, a leading copper and gold producer in Azerbaijan with a range of assets, produced 6.7 million ounces of gold in the first quarter of 2023 in Azerbaijan, which is 32.85 percent less than the same period last year, the company told Trend.
According to the company, copper production in the specified period grew from 568 to 847 tons by 49 percent year-on-year, while silver production decreased from 50.6 million to 22.5 million ounces by more than 2.2 times.
The company's revenues from the sale of precious metals amounted to $10.7 million in the first quarter, while revenues from the sale of gold reached $2.4 million.
At the same time, as of March 31, 2023, gold reserves were estimated at $3.6 million, while copper amounted to $6 million.
Anglo Asian Mining plans to put into operation Garadagh, Kharkhar, and Damirli fields. The company has already commenced the exploration of the Vezhnali gold deposit in the Zangilan district liberated from Armenian occupation.
AAM mainly exports gold bars produced in Azerbaijan to Switzerland. Meanwhile, copper is exported to Georgia, Uzbekistan, and Türkiye.