Anglo Asian Mining plc posts 45% decrease in production volumes in Azerbaijan

Anglo Asian Mining plc, the AIM-listed gold, copper, and silver producer primarily operating in Azerbaijan, produced 31,821 gold equivalent ounces (GEO) in 2023, Report informs, citing Q4 and FY 2023 production and operations reviews of the company.

According to the review, this is down 25,797 ounces, or 44.8%, from 2022.

Last year, 3,080 GEOs of non-ferrous metal production in gold equivalent were provided in the fourth quarter. This is 11,451 ounces, or 4.7 times less than the indicator for the fourth quarter of 2022.

Last year, the company produced 21,758 ounces of gold. This is 21,356 ounces, or 49.5% less than in 2022. In the fourth quarter, gold production was 2,979 ounces, which is 8,142 ounces, or 3.7 times less than in October–December 2022.

Last year's copper production by Anglo Asian Mining plc fell by 378 tonnes, or 15%, to 2,138 tonnes. In the fourth quarter, copper production decreased by 606 tons, or 34.7 times, compared to the last quarter of 2022, and amounted to 18 tons.

In 2023, silver production decreased by 129,820 ounces, or 3.4 times, to 53,226 ounces. Of this, 2,874 ounces (down 34,504 ounces, or 13 times) were produced in the fourth quarter.