Anglo Asian Mining plans to start extracting ore in Karabakh in 2H25

Anglo Asian Mining plans to start extracting ore in Karabakh in 2H25 111
Industry
May 22, 2025 11:47
Anglo Asian Mining plans to start extracting ore in Karabakh in 2H25

British company Anglo Asian Mining Plc. (AAM), which extracts gold, silver and copper in Azerbaijan, plans to start production at the Demirli copper-molybdenum mine in the Karabakh economic region in the second half of 2025, Report informs referring to the company's statement.

"Access has been obtained to Demirli, which holds significant potential, and is expected to enter production during the second half of 2025," reads the update.

The deposit is already included in AAM’s strategic growth plan. The company said a copper resource sufficient to justify restarting production has been identified.

"Various technical and logistical challenges need to be overcome in order to restart operations, including ensuring the mine and plant are fully operational and there is sufficient secure storage for its tailings. Demirli is a brownfield site which had been deliberately damaged [during the Armenian occupation] and accordingly, as you would expect, unforeseen difficulties are being encountered. However, the Group is confident that production can be restarted in the second half of 2025," reads the message.

Earlier, the company said that it planned to resume production at the complex during 2025.

AAM also noted that it plans to commission the Xarxar and Garadag deposits in 2028. Anglo Asian Mining is extracting precious metals at the Gadabay and Gosha contract areas.

The PSA contract was signed on August 21, 1997, and provided for the development of six deposits. Azerbaijan's share in the contract is 51%, while Anglo Asian Mining Plc.'s share is 49%. AAM holds the rights to develop eight contract areas in Azerbaijan.

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