Anglo Asian Mining Announces Preliminary Production Volumes At New Field In Azerbaijan

3/20/2023 12:16:34 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 20. Anglo Asian mining PLC [Public Limited Company], the AIM (Alternative Investment Market) listed gold, copper, and silver producer, expects mining and processing of 3 million tonnes of ore per year at the Khalkhar deposit, the company told trend .

According to the company, since July 2022, an extensive geological exploration program has been carried out at the Khalkhar deposit

'The base case open pit optimization study used a copper price of $8,000 and showed over 93,000 tonnes of economically extractable copper. Preliminary optimization modeling to test the economics for various mining options is underway to initially assess the open pit potential,' said the company.

'The optimization modeling shows that open pit mining would be economically viable at the Khalkhar deposit. Studies are also ongoing to assess underground mining options to yield the optimum mix of open pit and underground mining,' Anglo Asian Mining added.

It was also noted that the base case for the open pit optimization used a copper price of $8,000 per ton.

'Two pit depths were used as a 'minimum' and 'maximum' elevation to establish the amount of mineralization located beneath the various intervening pit floors. Significant mineralization is located below the open pit floor in the base case. This will allow for the optimization of the combined open pit and underground mining approach,' said the company.

In the coming years, Anglo Asian Mining plans to put into operation such contract zones as 'Garadagh', 'Kharkhar' and 'Damirli'. On the liberated territories, the company has already started the exploration of the 'Vezhnali' gold deposit in the Zangilan district.

Anglo Asian Mining mainly exports gold bars produced in Azerbaijan to Switzerland. Meanwhile, copper is exported to Georgia, Uzbekistan, and Türkiye.

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