Anglo Asian Mining Plc. (AAM), engaged in the extraction of gold, silver, and copper in Azerbaijan, has begun mining the first ore at the Gilar deposit.
Report informs, citing the company, that the Gilar deposit is estimated to contain more than 255,000 ounces of gold.
Anglo Asian Mining aims to steadily increase production over the next few months to reach a monthly target of around 50,000–60,000 tons of ore.
"With confirmed reserves of more than 54,000 tons of copper and 255,000 ounces of gold, Gilar will play a crucial role in our strategy to transition into a mid-tier producer," the company's CEO, Reza Vaziri, said.
Gilar is a mineral deposit located in the Gadabay contract area, approximately 7 km from the company's processing facilities.
Anglo Asian Mining extracts precious metals from the Gadabay and Gosha contract areas. A PSA contract was signed on August 21, 1997, which outlined the development of six deposits. Azerbaijan’s share in the contract is 51%, while Anglo Asian Mining PLC holds 49%. Currently, AAM holds rights to develop eight contract areas in Azerbaijan.
