Finance

Home page

Finance

Anglo Asian Mining’s gold production decreases by more than 30%

16 January 2025 15:07 (UTC +04:00)

Anglo Asian Mining PLC company of Great Britain which produces gold, silver, and copper in Azerbaijan, has revealed its indicators for 2024, APA-Economics reports.

According to the information, the company produced precious metal in the equivalent of 16,760 gold ounces (GEOs) in 2024. It is 47,3% less than the previous year. This number was 31,821 ounces in 2023.

Anglo Asian produced 15,073 gold ounces in 2024, which is 31% less than the same period of the previous year (21,758 gold ounces in 2023).

Copper production of the company has dropped from 2,138 tons to 377 tons in the last year. Silver production has fallen from 53,226 ounces (the first half of 2023) to 28,258 ounces in the first term of this year.

Note that Anglo Asian Mining deals with production within the framework of the contract PSA (Production Sharing Agreement) signed on August 21, 1997, in Azerbaijan. Azerbaijan's share in the contract is 51%, and Anglo-Asian Mining Plc's share is 49%.