British Anglo-Asian Mining Plc engaged in gold, silver, and copper mining in Azerbaijan, is forecasting production of between 15,000 and 19,500 gold equivalent ounces (GEOs) comprising 250 to 850 tons of copper and 14,000 to 16,000 ounces of gold in 2024, Report informs with the refence to the company.
Meanwhile, in 2023, the Company produced 31,821 GEOs, representing a 44.8-percent decline compared to the previous year.
Anglo-Asian Mining engages in production in Azerbaijan under the Production Sharing Agreement (PSA) type contract signed on August 21, 1997, and provided for the development of eight fields. Azerbaijan’s share in the contract is 51%, Anglo Asian Mining PLC - 49%.
Anglo Asian Mining is extracting precious metals from the contract areas of Gadabay and Gosha. The first gold mining began in 2009 from the Gadabay deposit, silver mining started in 2010. In September 2013, the company began developing the Gosha contract area.