In the fourth quarter of 2019 the total production volume of the Anglo Asian Mining PLC gold mining company operating in Azerbaijan increased by 1.7%, to 82,800 ounces in gold equivalent (81,400 ounces in 2018).
Gold production amounted to 70,100 ounces, which down by 3.7%. At the same time, copper production amounted to 2.2 tons, up by 34.4%, while silver production stood at 159,400 ounces, decreasing by 24.2%.
Gold bullion sales in 2019 amounted to 54,100 ounces at an average at $1,410 per ounce (for comparison: in 2018, gold bullion sales amounted to 59,500 ounces at an average of $1,265 per ounce).
The volume of copper concentrate shipments in 2019 amounted to 10,300 dry metric tons with a sales value of $17.9 million, excluding the profit share of the Azerbaijani government (for comparison: 7,675 dry metric tons were sold in 2018 with a sales value of $15.4 million).
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.
The company has a 1,962-square kilometer portfolio, assembled from analysis of historic Soviet geological data and held under a Production Sharing Agreement modeled on the Azerbaijani oil industry.
The company’s main operating location is the Gedabek contract area (“Gedabek”), which is a 300-square kilometer area in the Lesser Caucasus Mountains in Western Azerbaijan. (AzerNews/Ukrainian metal)