Anglo Asian Mining PLC has launched production of gold and silver at the Ugur deposit, located in Gedabek.
Ugur is already making a highly significant contribution to Anglo Asian’s production, the company’s press service reported.
“The average daily gold production in the form of gold Doré on September 1-10 was 212 ounces, up by 116% from the average daily production in the previous eight months. This average daily production is expected to increase further as Ugur moves into full production,” according to the company.
The Ugur deposit, which was discovered in 2016, is located three kilometers to the northwest of the company’s main fields.
The first work on mining at this field began in September 2016. According to preliminary estimates, Ugur has a total mineral resource of 199,000 ounces of gold and 1,049,000 ounces of silver.
In the first half of 2017, AAM produced 23,218 ounces of gold (down by 31.4% YoY), 1,322 tons of copper (up by 36.4%), and 85,087 ounces of silver (down by 6.3%).
The company reconfirmed its production forecast of 64,000 to 72,000 of gold equivalent ounces in 2017.
Anglo Asian Mining plc is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan.
Overall, Anglo Asian Mining PLC has the right to develop 6 fields in southwest of Azerbaijan: Gadabay, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu, in accordance with the Production Sharing Agreement (PSA) signed between RV Investment Group Services and the government of Azerbaijan.
The gold and silver produced there are sent to Switzerland for refining, and gold bars are delivered to the country and preserved by the government. (AzerNews/Ukrainian metal)
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