Anglo Asian Mining PLC operates the Gilar copper-gold mine in Azerbaijan

On May 19 (Monday), UK-based Anglo-Asian Mining Plc., which engages in gold, silver, and copper ore mining in Azerbaijan, announced that the Gilar mine had commenced production. The mine is part of the Gedabek mining site in Azerbaijan. The company aims to mine approximately 2,000 mt of ore annually, with a monthly production target of 50,000-60,000 ounces as operations ramp up.

According to the initial JORC Mineral Resource estimate for the Gilar mine released in December 2023, the deposit contains 6.1 million mt of mineralization, with an average copper grade of 0.88%, equivalent to nearly 54,000 mt of copper, and 1.3 grams of gold per mt, equivalent to over 255,000 ounces of gold.

The company produced 16,760 ounces of gold equivalent in 2024. Despite partial production suspensions that year due to environmental reasons, production resumed by the end of the year.

Anglo-Asian Mining aims to become a mid-sized copper and gold producer with a diversified asset portfolio by 2029, with copper as its primary product. The company plans to bring four new mines into production from 2025 to 2029, including the Gilar, Zafar, Xarxar, and Garadag mines.