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British mining company's gold production in Azerbaijan to triple next year

24 November 2025 14:16 (UTC +04:00)

Anglo Asian Mining Plc. (AAM), a British company engaged in gold, silver and copper mining in Azerbaijan, will increase production 10 times to 150,000 gold equivalent ounces (GEO) in 2026, APA-Economics reports.

This was stated in a report about the company. It was noted that studies show that the mining company's production will reach a record level in 2026. According to the study, with the entry into production of the Gilar and Demirli mines, Anglo Asian's production of both gold and copper will increase sharply.

The report states that the company's gold production will increase from 15,000 ounces in 2024 to 43,000 ounces in 2026, and copper production from 0.4 thousand tons to 30,000 tons. According to the document, this increase will be ensured by the production of 19 thousand tons of copper by Demirli in 2026, and 8 thousand tons by Gilar.

Analysts emphasize that this will lead to the first time in history that AAM's total metal production will increase from 16 thousand ounces (GEO) in 2024 to 64 thousand ounces in 2025 and 150 thousand ounces in 2026.

The report says that this dynamics will also have a serious impact on the company's revenues. In 2026, Anglo Asian's total revenue is expected to reach $333 million, which is a 292 percent increase compared to 2022.

According to the assessment of analytical companies, Anglo Asian's production portfolio will gradually abandon the gold-oriented structure from 2026, and copper will come to the fore as the main source of income. It is emphasized that such a rapid increase in production will lead to both an increase in the company's value and a strengthening of market interest in its shares.

Recall that AAM began development of 6 fields under the Production Sharing Agreement (PSA) signed on August 21, 1997. According to the agreement, Azerbaijan's share is 51%, and the share of Anglo Asian Mining PLC is 49%. Currently, the company has the right to operate in 8 contract areas in Azerbaijan. The company is listed on the London Stock Exchange and is one of the country's largest non-oil industrial exporters.