Baku: Anglo Asian Mining Plc. (AAM), a British company engaged in gold, silver, and copper mining in Azerbaijan, will increase production 10 times to 150,000 gold equivalent ounces (GEO) in 2026, APA-Economics reports.
According to Azeri-Press News Agency, a report about the company indicates that studies show the mining company’s production will reach a record level in 2026. The report highlights that with the commencement of production at the Gilar and Demirli mines, Anglo Asian’s output of both gold and copper will increase significantly.
The document details that the company’s gold production is expected to rise from 15,000 ounces in 2024 to 43,000 ounces in 2026, while copper production is projected to grow from 0.4 thousand tons to 30,000 tons. This increase will be primarily driven by the production of 19 thousand tons of copper by Demirli and 8 thousand tons by Gilar in 2026.
Analysts point out that this will mark the first time in history that AAM’s total metal production will escalate from 16 thousand ounces (GEO) in 2024 to 64 thousand ounces in 2025, subsequently reaching 150 thousand ounces in 2026.
The report also indicates that this growth trajectory will have a notable impact on the company’s revenues. It is anticipated that Anglo Asian’s total revenue will reach $333 million in 2026, representing a 292 percent increase compared to 2022.
Analytical companies assess that Anglo Asian’s production portfolio will gradually shift away from a gold-centric structure starting in 2026, with copper emerging as the primary source of income. Such a rapid production increase is expected to enhance the company’s value and strengthen market interest in its shares.
It is worth recalling that AAM began developing six fields under the Production Sharing Agreement (PSA) signed on August 21, 1997. As per the agreement, Azerbaijan’s share is 51%, while Anglo Asian Mining PLC holds 49%. Currently, the company has rights to operate in eight contract areas in Azerbaijan and is listed on the London Stock Exchange, being one of the country’s largest non-oil industrial exporters.