Anglo Asian Mining to launch full-scale production at Gilar in May

UK-based Anglo Asian Mining plans to begin full-scale gold production in May at the Gilar deposit in Azerbaijan’s Dashkasan district.

The first ore was extracted in March from Zone 4, which holds an estimated 2.4 million tonnes of ore with 1.47% copper and 1.78 g/t gold content.

The company aims to gradually increase output, targeting 400,000 tonnes of ore by the end of 2025.

As of March 31, Anglo Asian Mining reported $7.1 million in unsold precious metal inventory, $12.5 million in cash, and a net debt of $8.8 million.

Gilar is located about 7 km from the company’s processing plant. Total mineral resources at the site are estimated at 54,000 tonnes of copper and 255,000 ounces of gold under the JORC standard.

Under its growth strategy, AAM aims to become a mid-tier copper and gold producer by 2029, with four new mines planned: Zafar, Gilar, Kharkhar, and Garadagh.

N.Tebrizli