UK-based Anglo Asian Mining PLC (AAM), engaged in the production of gold, copper, and silver in Azerbaijan, has announced its gold production forecast for 2026, APA-Economics reports.
AAM expects gold output in 2026 to range between 28,000 and 33,000 ounces. Compared to the 25,061 ounces produced in 2025, this represents an increase of approximately up to 30%.
The company also forecasts silver production to rise to 170,000–210,000 ounces, compared to 153,333 ounces in 2025.
The mining company plans to increase copper production to 20,000–25,000 tonnes in 2026. This would mark a threefold increase compared to the 7,915 tonnes produced in 2025. The company attributes this growth to the increasing contribution of the Gilar and Demirli mines, which were commissioned in 2025.
According to cost projections, production costs in 2026 are expected to range between 1,500–1,800 US dollars per ounce of gold and 6,800–7,800 US dollars per tonne of copper.
Chief Executive Officer Rza Vaziri stated that copper will become the primary product in 2026, as Anglo Asian aims to expand production under its medium-term strategy.
Anglo Asian began operations under a Production Sharing Agreement (PSA) signed on August 21, 1997, covering six deposits. Under the agreement, Azerbaijan holds a 51% stake, while Anglo Asian Mining PLC holds 49%. The company currently has the right to operate in eight contract areas in Azerbaijan. Anglo Asian is listed on the London Stock Exchange’s AIM market and is one of the country’s largest non-oil industrial exporters.
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