Income of the "Anglo-Asian Mining" in Azerbaijan rose by 19%

Baku. 24 September. REPORT.AZ/ Company "Anglo-Asian Mining" published an interim report on the results of the extraction of gold, silver and copper in Azerbaijan in the first half of 2014.

Report informs, referring to the company as of June 30 this year 27,054 ounces of gold (in the I half of 2013 - 17,497 ounces), 21,924 ounces of silver (in I half of 2013 - 10,661 ounces) and 646 dry metric tons of copper concentrate (in the I half of 2013 - 285 smt) produced on the main field of the company in Azerbaijan - "Gedabey". 2,500 ounces of gold was produced in the field “Gosha”.

The company notes that it is planned to increase production from both fields to 62 000 ounces at the end of the year. At the same time, during the reporting period, the company earned 32.7 million dollars, which is 5.1 mln dollars, or 18.5% more than in 2013. Pre-tax loss amounted to 7.5 mln dollars.

Manual "Anglo-Asian Mining" also notes that the beginning of the year was difficult for all mining companies in the world because of the collapse in commodity prices, but the company intends to stabilize its profitability and become the leader in the Caucasus region.

"Anglo-Asian Mining" since May 2009, has been developing the fields "Gedabey", "Gosha", "Ordubad" in Azerbaijan. Total reserves of gold, silver and copper in these fields estimated at 744 thousand ounces.