Anglo-Asian Mining sees decrease in gold, copper production

The British company Anglo Asian Mining PLC, which extracts gold, silver and copper in Azerbaijan, produced 14,532 ounces of precious metal ores in gold equivalent during the fourth quarter of 2022, Report informs referring to the published report of the company.

This is 8.9% less compared to the fourth quarter of 2021. In the fourth quarter of 2021, these volumes amounted to 15,545 gold equivalent ounces.

In the fourth quarter of last year, the company mined 11,121 ounces of gold. This is 4.04% less than in the fourth quarter of 2021.

During the specified period, the British company produced 624 tons of copper. This is 16.02% less than in the fourth quarter of 2021.

In the fourth quarter of 2022, Anglo Asian Mining PLC produced 37,378 ounces of silver. This is 3.35% less than in the fourth quarter of 2021.

In total, during 2022 the company produced 57,618 ounces of precious metal ores in gold equivalent.

Last year, the company mined 43,114 ounces of gold. This is 11.43% less than in 2021.

During this period, the British company produced 2,516 tons of copper. This is 5.02% less than in 2021.

During 2022, Anglo Asian Mining PLC produced 182,046 ounces of silver. This is 17.82% more than in the same period in 2021.

Anglo Asian Mining PLC carries out gold mining in Azerbaijan within a PSA agreement, signed on August 21, 1997. According to the agreement, the share of Azerbaijan is 51%, the British company Anglo Asian Mining PLC has a share of 49%. The first gold mining at the Gadabay field began in 2009.