Anglo Asian expects copper output to triple in 2026

[Ben Graham]

Anglo Asian Mining (LON: AAZ) said on Wednesday it expects to approximately triple its copper output in 2026, its first full year as a multi-asset producer.

The company historically produced gold and silver across its Azerbaijan-focused operations. In 2025, it officially became a copper producer after bringing the Gilar and Demirli mines online. Since their respective starts in May and July, they produced a total of 7,915 tonnes of copper.

This year, the London-listed miner anticipates copper production of at least 20,000 and up to 25,000 tonnes with increased contributions from the two mines. The all-in sustaining cost (AISC) is estimated at $6,800-$7,800/tonne.

On the precious metals side, Anglo Asian expects its gold output to reach 28,000-33,000 oz. and silver output to fall between 170,000-210,000 oz., at an AISC of $1,500-$1,800 per oz.

“During 2026, copper will become our primary product, and we are confident that we can triple our copper output year-on-year,” Reza Vaziri, CEO of Anglo Asian. “Anglo Asian has benefitted from our consistent operational delivery and strong prevailing precious and base metals prices.”

The company had recently been the subject of a takeover by ACG Metals (LON: ACG), which is looking to consolidate the copper industry and already bought the Gediktepe mine in Türkiye. However, ACG walked away from a deal, citing valuation.