Anglo Asian Mining PLC, the AIM-listed gold, copper, and silver producer focused in Azerbaijan, is pleased to announce its final audited results for the year ended 31 December 2020.
In 2021, the Company will only be mining from its existing mines.
According to the company, the production is forecast to decrease, mainly due to the exhaustion of the Ugur open pit in 2020: “We have therefore set a production target of 64,000 to 72,000 gold equivalent ounces for 2021. This includes up to 54,000 ounces of gold and between 2,500 and 2,800 tons of copper. We believe our continued exploration program and other initiatives will result in an increase in production in future years.”
This 2021 guidance does not include any production from the restored contract areas. Whilst the situation is currently unclear, the Company believes there may be potential for a small amount of production from ore stockpiled at Vejnaly.