BAKU, Azerbaijan, Jan. 14
By Eldar Janashvili - Trend:
The total production volume decreased by three percent to 21,300 ounces in gold equivalent in the fourth quarter of 2019 compared to the fourth quarter of 2018 (21,945 ounces), Trend reports referring to Anglo Asian Mining PLC gold mining company’s data on its activity for the fourth quarter of 2019 at its Gedabek, Gosha, Ordubad and other contract areas.
Copper production amounted to 729 tons in the fourth quarter of 2019, which is an increase of 24 percent compared to the same period of 2018. At the same time, 113 tons were processed through sulfidation, acidification, recycling and thickening and 616 tons through flotation.
Gold production amounted to 17,900 ounces, decreasing by 1.7 percent in the fourth quarter of 2019 compared to the same period of 2018. At the same time, 15,900 ounces contained within gold doré, 16 ounces were extracted through SART processing and 1,979 ounces - from flotation.
Silver production amounted to 41,700 ounces, decreasing by 36.7 percent in the fourth quarter of 2019 compared to the same period of 2018. At the same time, 3,900 ounces contained within gold doré, 11,200 ounces were extracted through SART processing and 26.6 ounces - from flotation.
Gold bullion sales in the fourth quarter of 2019 amounted to 12,500 ounces worth $1,481 per ounce (for comparison: in the third quarter of 2019, gold bullion sales amounted to 14,894 ounces worth $1,513 per ounce).
The volume of supplies of copper concentrate to the consumer in the fourth quarter of 2019 amounted to 3,700 dry metric tons with a sales value of $6.9 million, excluding the share of profit of the Azerbaijani government (for comparison: 2,250 dry metric tons were sold in the third quarter of 2019 with a sales value of $3.4 million).
Anglo Asian Mining plc is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan.
The company has a 1,962 square kilometer portfolio, assembled from analysis of historic Soviet geological data and held under a Production Sharing Agreement modelled on the Azerbaijani oil industry.
The company’s main operating location is the Gedabek contract area ("Gedabek") which is a 300 square kilometer area in the Lesser Caucasus mountains in western Azerbaijan.
---
Follow the author on Twitter: @eldarjanashvili