Anglo-Asian Mining reduces gold sale in 2017

Baku. 16 January. REPORT.AZ/ British Anglo-Asian Mining Plc., which is engaged in gold, silver and copper production in Azerbaijan, conducted gold bullion sales of 43,496 ounces at an average of $1,265 per ounce in 2017.

Report informs referring to the company.

Sales of 53,281 ounces at an average of $1,253 per ounce was carried out in 2016.

Copper concentrate shipments to the customer totalled 8,497 dmt with a sales value of $16.8 million (excluding Government of Azerbaijan production share), while 6,830 dmt with a sales value of $12.3 million in 2016.

In the 4th quarter of the reporting year, gold bullion sales of 18,520 ounces conducted at an average of $1,278 per ounce.

Copper concentrate shipments to the customer totalled 196 dry metric tonnes with a sales value of $1.0 million (excluding Government of Azerbaijan production share).

Notably, Anglo-Asian Mining is engaged in production in Azerbaijan in the framework of the contract such as PSA (Production Sharing Agreement), signed on 21 August 1997. The agreement Azerbaijan's share is 51%, of the British company Anglo Asian Mining Plc. - 49%. The company commenced gold production in 2009 (in Gedabek deposit).