Make Kitco Your Homepage

Anglo Asian ramps up production in Azerbaijan in Q2 2021

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Anglo Asian Mining (AIM:AAZ), a gold, copper and silver producer focused on Azerbaijan, reported today that in Q2 2021, the company produced 695 tonnes of copper, 12,342 ounces of gold and 43,566 ounces of silver at its Gedabek mine in western Azerbaijan.

When compared to the gold equivalent production of 14,301 ounces for the corresponding period in 2020, the company’s Q2 2021 total gold equivalent output of 16,740 ounces was 17% higher.

The company said that it remains on track to achieve its annual production guidance of 48,000 ounces to 54,000 ounces of gold and 2,500 tonnes to 2,800 tonnes of copper. This total production target expressed as gold equivalent ounces at budgeted prices is between 64,000 GEOs and 72,000 GEOs.

The company noted it continues to work hard on the top-priority exploration of the new Zafar deposit, which has already demonstrated significant copper-gold drill hole intersections with encouraging copper, zinc and gold grades. Anglo Asian added that it looks forward to releasing the maiden JORC resource for the project by the end of this month or early August.

Anglo Asian Mining is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The company has a 1,962 square kilometre portfolio at its active Gedabek, Gosha and Ordubad contract areas. The company also has three recently restored contract areas in the formerly Occupied Territories and Karabakh which the company has started to preliminary evaluate.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.