Anglo Asian Mining PLC has released its production guidance for the full year 2024, following the authorization to raise the wall of its tailings dam. The company forecasts a production of 15,000 to 19,500 gold equivalent ounces (GEOs), including 250 to 850 tonnes of copper and 14,000 to 16,000 ounces of gold. The raise of the tailings dam wall has commenced and is expected to be completed within the next three months.
The agitation leaching plant has undergone extensive renovation and refurbishment, with the company anticipating a restart in mid-September, initially processing 97,000 tonnes of stockpiled ore. The flotation plant is set to restart in November, using fresh ore from the existing open pit. Additionally, the company expects the first ore to be mined from Gilar in December, with the planned extraction and processing of approximately 35,000 to 40,000 tonnes of ore.
Reza Vaziri, Chief Executive Officer of Anglo Asian Mining, expressed satisfaction with the guidance and the progress of the tailings dam wall raise. He also highlighted the company's strategic growth plan to become a multi-asset, mid-tier primarily copper producer, with a focus on delivering the plan in the coming years.
Anglo Asian Mining plc is a gold, copper, and silver producer with a portfolio of production and exploration assets in Azerbaijan. The company's strategic plan aims to transition to a multi-asset, mid-tier, copper, and gold producer by 2028, with copper being the principal product. This growth plan includes bringing four new mines into production during the period 2024 to 2028 at Zafar, Gilar, Xarxar, and Garadag.