Ore has been extracted for the first time from the "Gilar" mine located in Gadabay, APA reports, citing British company Anglo Asian Mining PLC (AAM), which produces gold, copper, and silver in Azerbaijan.
It was noted that the initial extraction amounted to 1,267 tons of ore, containing an average of 0.65% copper (with a maximum of 1.63% copper) and 1.36 grams of gold per ton (with a maximum of 3.27 g/t gold). The company plans to gradually increase production in the coming months and achieve monthly ore extraction of 50-60 thousand tons.
It should be noted that the preliminary JORC mineral resource evaluation for the Gilar mine was published on December 11, 2023. According to the report, the Gilar mine contains approximately 6.10 million tons of ore with an average copper content of 0.88%, equating to around 54 thousand tons of copper. Additionally, the reserve is estimated to contain more than 255 thousand ounces of gold, with an average of 1.30 grams of gold per ton of ore.
It should be noted that "Anglo-Asian Mining" is engaged in production in Azerbaijan within the framework of the PSA (Production Sharing Agreement) type contract signed on August 21, 1997. Azerbaijan's share in the contract is 51%, "Anglo-Asian Mining Plc." company's share is 49%.
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