Anglo Asian Mining increases copper production volume in 2020
BAKU, Azerbaijan, Jan. 14
By Fidan Babayeva - Trend:
The total production volume of the Anglo Asian Mining PLC operating in Azerbaijan decreased by 16.5 percent to 69,091 ounces in gold equivalent in 2020 (82,800 ounces in 2019), Trend reports referring to the company.
Gold production reached 56,864 ounces decreasing by 18 percent compared to 2019 (FY 2019: 70,098 ounces)
Copper production totaled 2,591 tons increasing by 17.2 percent compared to 2019 (FY 2019: 2,210 tons)
Silver production totaled 122,962 ounces decreasing by 22.2 percent (FY 2019: 159,356 ounces)
FY 2020 gold bullion sales reached 48,650 ounces at an average of $1,777 per ounce (FY 2019 gold bullion sales reached 53,992 ounces at an average of $1,410 per ounce).
FY 2020 copper concentrate shipments to the customer totaled 11,839 dmt with a sales value of $17.7 million (excluding Government of Azerbaijan profit share) (FY 2019: 10,281 dmt with a sales value of $16.7 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's portfolio, which was formed in accordance with the agreement "On the division of production on the model of the oil industry of Azerbaijan", includes an area of 1,962 square kilometers, selected on the basis of an analysis of historical Soviet geological data.
The main area of the company's activity is the Gadabay contract area with an area of about 300 square kilometers in the Lesser Caucasus mountains in western Azerbaijan.