Anglo Asian Mining PLC has received authorization from the Government of Azerbaijan to raise the wall of its tailings dam. The construction work will comply with all health and safety requirements, and the company will immediately start mobilizing resources to restart production from its agitation and flotation processing plants, expected to take up to one week. The company will provide an update on production guidance for the year in due course and continues to prioritize the progression of its development portfolio, with the new Gilar mine expected to enter production in Q4 2024.
Reza Vaziri, Chief Executive Officer of Anglo Asian Mining, expressed delight at the authorization, stating, "We have also started mobilizing resources to restart flotation and agitation leaching processing and expect to recommence full production in approximately one week. This marks the end of a year-long disruption, and we look forward to normalizing production." The company also aims to transition to a multi-asset, mid-tier primarily copper producer by 2028.
Anglo Asian Mining plc is a gold, copper, and silver producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The company's strategic plan for growth outlines a path to transition to a multi-asset, mid-tier, copper, and gold producer by 2028, with forecast production of around 36,000 copper equivalent tonnes. This growth plan includes bringing into production four new mines during the period 2024 to 2028 at Zafar, Gilar, Xarxar, and Garadag.