Anglo Asian Mining PLC (AAM), operating in Azerbaijan and engaged in the production of gold, copper, and silver, has announced its gold production forecasts for 2026.
“Elchi” reports that AAM expects gold production to be between 28,000 and 33,000 ounces in 2026. This is an increase of approximately 30% compared to the 25,061 ounces recorded in 2025.
The company also forecasts that silver production will increase to 170,000–210,000 ounces. In 2025, silver production amounted to 153,333 ounces.
The mining company plans to increase copper production to 20,000–25,000 tons in 2026. This is a threefold increase compared to the 2025 production figure (7,915 tons). The company attributes this increase to the increased contribution of the Gilar and Damirli mines, which were put into operation in 2025.
According to cost forecasts, production costs per ounce of gold in 2026 are expected to be in the range of US$1,500–1,800, and for copper, US$6,800–7,800 per ton.
The company’s CEO, Reza Vaziri, stated that copper will become the main product in 2026, and Anglo Asian aims to expand production within its medium-term strategy.
It should be reminded that “Anglo Asian” started operating in 6 deposits within the framework of the production sharing agreement (PSA) signed on August 21, 1997. According to the agreement, Azerbaijan’s share is 51%, and “Anglo Asian Mining PLC”’s share is 49%. Currently, the company has the right to operate in 8 contract areas in Azerbaijan. The company is listed on the London Stock Exchange (AIM) and is one of the country’s largest non-oil industrial exporters.