Anglo Asian Mining (AIM: AAZ) is moving further along in its pathway of achieving mid-tier copper producer status following the successful commissioning of a second producing mine this year.
On Monday, the Azerbaijan-focused miner announced that the Demirli mine located in the Karabakh economic region has entered production, forecasting an output of 4,000 tonnes in concentrate through 2025 as it ramps up production.
From 2026 onwards, Demirli’s production is expected to increase to 15,000 tonnes annually. The life of mine will be determined later following further development of the geological and mineral resource model.
According to Anglo Asian, there is potential for additional mineral resources at Demirli, with known extensions to the current pit area, along with nearby copper targets being identified for future evaluation.
CEO Reza Vaziri said the start of production from Demirli represents a “significant step” in the company’s transition into a multi-asset, mid-tier mining company based in Azerbaijan.
Anglo Asian has previously focused on gold. In 2009, it brought the Gedabek open pit operation online, becoming the first gold producer in the country. The mine also produces silver and copper, with total output of 16,760 ounces in gold equivalent last year.
As part of its strategy to transition into a primarily copper producer starting in 2029, the company announced in May the start of production at Gilar, a new underground mine at the Gedabek site containing 54,000 tonnes of copper in resources.
Now with another producing copper asset, Anglo Asian is expected to issue a revised production guidance for 2025. In the coming years, the company is expecting three more copper mines, Zafar, Xarxar and Garadag, to be brought into production.
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Anglo Asian Mining (AIM: AAZ) is moving further along in its pathway of achieving mid-tier copper producer status following the successful commissioning of a second producing mine this year.
On Monday, the Azerbaijan-focused miner announced that the Demirli mine located in the Karabakh economic region has entered production, forecasting an output of 4,000 tonnes in concentrate through 2025 as it ramps up production.
From 2026 onwards, Demirli’s production is expected to increase to 15,000 tonnes annually. The life of mine will be determined later following further development of the geological and mineral resource model.
According to Anglo Asian, there is potential for additional mineral resources at Demirli, with known extensions to the current pit area, along with nearby copper targets being identified for future evaluation.
CEO Reza Vaziri said the start of production from Demirli represents a “significant step” in the company’s transition into a multi-asset, mid-tier mining company based in Azerbaijan.
Anglo Asian has previously focused on gold. In 2009, it brought the Gedabek open pit operation online, becoming the first gold producer in the country. The mine also produces silver and copper, with total output of 16,760 ounces in gold equivalent last year.
As part of its strategy to transition into a primarily copper producer starting in 2029, the company announced in May the start of production at Gilar, a new underground mine at the Gedabek site containing 54,000 tonnes of copper in resources.
Now with another producing copper asset, Anglo Asian is expected to issue a revised production guidance for 2025. In the coming years, the company is expecting three more copper mines, Zafar, Xarxar and Garadag, to be brought into production.