British gold mining company Anglo Asian Mining (AAM) forecasts gold production in Azerbaijan in 2025 to be between 25,000 and 28,000 ounces.
According to AAM, actual gold production in 2024 was 15,073 ounces. Therefore, this figure could increase 1.7 to 1.9-fold in 2025.
The company’s copper production in Azerbaijan this year is projected to be between 8,100 and 9,000 tons, compared to the actual figure for 2024 of 377 tons. Therefore, copper production by the end of the current year could increase 21.5-23.9-fold.
The company’s revenue until the end of 2025 is projected to be between $125-140 million, compared to the actual figure of $39.6 million (an increase of 3.2-3.5-fold). EBITDA is projected to be between $40-50 million, compared to an actual operating loss of $5.4 million.
The PSA contract was signed on August 21, 1997. AAM currently holds the rights to develop eight contract areas in Azerbaijan, but is currently mining precious metals from two contract areas: Gadabay and Gosha.
The share of Azerbaijan, which is represented in the contract by AzerGold CJSC, is 51%, the share of AAM is 49%. (Report)