British gold miner increases gold production in Azerbaijan to 6,000 ounces in Q125

British Anglo Asian Mining company, engaged in the extraction of gold deposits in Azerbaijan, extracted precious metals in the amount of 8,085 ounces of gold equivalent in the first quarter of 2025, which is 3.2 times more than in the same period last year, Report informs referring to the company's data.

During the reporting period, the company mined 6,029 ounces of gold in Azerbaijan (an increase of 2.7 times), copper - 534,000 tons (an increase of 9.9 times), silver - 30,321 ounces (an increase of 4.7 times). During the reporting period, the company extracted 5,758 ounces of gold (an increase of 2.54 times) and silver - 8,212 ounces (an increase of 5.4 times) from the Gadabay deposit.

In the first quarter of this year, the company sold 4,753 ounces of gold in bars on world markets (an increase of 21.1%) at an average price of $2,843 per ounce. In January-March last year, the company sold gold in bars at an average price of $2,080 per ounce, the statement says.

Anglo Asian Mining mines precious metals from the Gadabay and Gosha contract area.

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%, Anglo Asian Mining PLC - 49%. Currently, AAM owns the rights to develop eight contract areas in Azerbaijan.