Anglo Asian Mining plans to reach record production volumes in Azerbaijan

Business Materials 7 February 2019 17:43 (UTC +04:00)

Baku, Azerbaijan, Feb. 7

By Azad Hasanli - Trend:

In 2019, Anglo Asian Mining (AAM) plans to extract 82,000-86,000 ounces in gold equivalent in Azerbaijan, which is a record production volume for the company, Trend reports referring to AAM.

As noted, 65,000-67,500 ounces of this amount will be gold.

Moreover, AAM plans to mine about 3,100-3,300 tons of copper in 2019.

In 2018, AAM mined 83,736 ounces in gold equivalent in Azerbaijan, and the forecast was 78,000-84,000 ounces. Actual gold production in 2018 was 72,798 ounces.

AAM and Swiss Industrial Minerals SA signed an agreement in May 2014 on selling cooper concentrate produced at Gadabay field in Azerbaijan. Based on the production sharing agreement signed with Azerbaijani government in August 1997, Anglo Asian Mining PLC has the right to develop six fields in south-west of Azerbaijan: Gadabay, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu.

The gold produced at the fields is sent to Switzerland for purification. The ingots are delivered to Azerbaijan and are stored in the government’s account.


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