Anglo-Asian Mining Plc, a British company, engaged in gold, silver and copper mining in Azerbaijan, has revealed the volume of sales in the fourth quarter of 2021, Report informs.
The company sold 13,153 ounces of gold bullion in the fourth quarter of 2021, a drop of 4,419 ounces or 27.22% from the same quarter of 2020.
The average selling price per ounce in the fourth quarter of 2021 was $1,825, or $59 or 3.13% less than the average price in the fourth quarter of 2020.
The volume of copper concentrate sold by the company in the fourth quarter of 2021 amounted to 4,132 dry metric tons. This is 79 dry metric tons or 1.88% more than in the fourth quarter of 2020.
In the fourth quarter of 2021, the sale value of the company's supply of copper concentrate to the customer amounted to $8.9 million (excluding the production share of the Government of Azerbaijan), $2.6 million or 41.27% more than in 2020.
Anglo-Asian Mining is operating in Azerbaijan under the PSA (Production Sharing Agreement) signed on August 21, 1997. Azerbaijan's share in the agreement is 51%, Anglo-Asian Mining Plc. company's share is 49%. The first gold production (at the Gadabay field) began in 2009.