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Anglo Asian Mining to expand capacity of its flotation plant in Azerbaijan

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(Kitco News) - Anglo Asian Mining (AIM: AAZ), a gold, copper and silver producer focused on Azerbaijan, today announced the start of an expansion of its flotation plant, which will be doubled in capacity, and provide additional operational flexibility.

The company said that the expansion forms part of Anglo Asian's increase in throughput capacity to process ore from new mines in the short and medium term.

“This will begin with Zafar, which is due to commence production in H2 2023. It will support the company's ambition to become a mid-tier miner producing over 100,000 gold equivalent ounces per annum,” Anglo Asian noted in a statement.

Anglo Asian's flotation plant opened in 2015 to produce copper concentrate as the company was mining ore with increasing amounts of copper. The flotation plant is located at its Gedabek site, next to its agitation leaching plant.

According to the company’s statement, the expansion of the flotation plant will double its capacity from 80 to 160 tonnes per hour from Q3 2023.

CEO Reza Vaziri commented, "Anglo Asian is at the beginning of its next phase of growth, as we prepare to bring a number of new mines into production. The development of our medium-term growth strategy is well underway and we need to increase our processing capabilities to accommodate additional ore production.

"This expansion is an important step in the company's preparation for our new mines entering production. The mine design at Zafar is well advanced and production will commence in H2 2023. This increase in production capacity is a critical part in enabling Anglo Asian to achieve mid-tier production status in due course."

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 produced 64,610 gold equivalent ounces for the year ended 31 December 2021.

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