Anglo Asian achieves meaningful copper output increase
Aim-listed Anglo Asian Mining has achieved a notable increase in copper production of 3 711 t in the quarter ended March 31, compared with 534 t having been produced in the same quarter of last year.
The company’s Gedabek mine accounted for 1 462 t while the Demirli mine production totalled 2 249 t in the quarter. Both mines are based in Azerbaijan.
Anglo Asian also produced 6 062 oz of gold in the reporting quarter, compared with 6 028 oz in the prior corresponding quarter.
Silver production also increased meaningfully from 30 315 oz in the first quarter of last year to 42 796 oz in the first quarter of this year.
The group sold 4 100 oz of gold bullion at an average price of $4 728/oz in the quarter under review, which compares with 4 753 oz of gold bullion sold at an average price of $2 843/oz in the same quarter of last year.
Concentrate sales totalled $45.6-million in the quarter from sales of 18 553 t.
The company had an unsold gold doré and copper concentrate inventory worth $30.8-million at the end of the year, coupled with net cash of $17.7-million.
Anglo Asian CEO Reza Vaziri is pleased with the company’s progress during the reporting quarter, saying that excellent copper production from Gedabek and Demirli demonstrates the successful continuing execution of the group’s strategy to rapidly expand copper production and successfully transition to a multi-asset, midtier copper-focused producer.
In the full 2025 financial year, Anglo Asian produced 7 915 t of copper, 25 061 oz of gold and 153 333 oz of silver.
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