Anglo Asian Mining PLC on Monday announced that it started production from Gilar, a new underground mine at the Gedabek site in Azerbaijan.
The Azerbaijan-focused gold, copper and silver miner said ore is now being mined from the higher-grade zone 4, and the copper and gold grades of the ore are consistent with the company’s mining plan.
Chief Executive Officer Reza Vaziri said: ‘We are delighted to announce that Gilar has now entered production. After years of exploration and development works, I wish to thank all the team for their hard work in delivering this achievement. With over 54,000 tonnes of copper and 255,000 ounces of gold confirmed, Gilar is set to play a crucial role in our strategy to transition to a mid-tier, primarily copper-focused producer.’
Anglo Asian shares rose 6.2% to 132.69 pence each on Monday morning in London.
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