British company to start first ore extraction from Azerbaijan’s Gilar deposit

British Anglo-Asian Mining Plc engaged in gold, silver and copper mining in Azerbaijan, will start the first ore extraction from the Gilar deposit in December 2024, Report informs, citing the company.

“The development of the Gilar mine began in 2023, with the first ore expected to be produced in December 2024,” the company stated.

The company also emphasized that, according to the plan, approximately 35,000-40,000 tons of ore containing 1.6 grams of gold per ton and 2% copper will be extracted and processed per month.

The Gilar deposit is estimated to contain 249,083 ounces of gold, 46,466 tons of copper, and 48,786 tons of zinc.

Anglo-Asian Mining engages in production in Azerbaijan under the Production Sharing Agreement (PSA) type contract signed on August 21, 1997, and provided for the development of eight fields. Azerbaijan’s share in the contract is 51%, Anglo Asian Mining PLC - 49%.

Anglo Asian Mining is extracting precious metals from the contract areas of Gadabay and Gosha. The first gold mining began in 2009 from the Gadabay deposit, silver mining started in 2010. In September 2013, the company began developing the Gosha contract area.