What's Happening?
Anglo-Asian Mining Plc., a British company operating in Azerbaijan, has raised its gold production forecast for 2025 to 25,000–28,000 ounces. This increase is attributed to the commissioning of new mines, Gilar and Damirli, which are expected to significantly boost production. The company also increased its copper production forecast to 8,100–9,000 tons, marking substantial growth compared to 2024 figures.
Why It's Important?
The increased production forecasts indicate a positive economic outlook for Anglo-Asian Mining Plc. and Azerbaijan's mining sector. This growth could enhance the company's financial performance, with projected turnover reaching $125–140 million and EBITDA rising to $40–50 million. The development may attract further investment in Azerbaijan's mining industry, contributing to economic diversification and job creation.
What's Next?
Production at the Damirli deposit began in July, with the plant nearing full capacity. The Gilar deposit is extracting high-quality ore, which will be processed at an expanded plant in early 2026. These developments are expected to positively impact production figures for both 2025 and 2026, potentially leading to further expansion and investment opportunities.
Beyond the Headlines
The mining operations are conducted under a Production Sharing Agreement, with Azerbaijan holding a 51% share. This arrangement highlights the collaborative nature of international mining ventures and the strategic importance of resource management in Azerbaijan.
