UK-based Anglo Asian Mining (AAM) expects a significant increase in gold and copper production in Azerbaijan in 2025, according to the company’s updated forecast released on Friday.
AAM projects gold output between 25,000 and 28,000 ounces this year – nearly 1.7 to 1.9 times higher than the 15,073 ounces produced in 2024, Report said, citing the company statement.
Copper production is forecast to jump even more dramatically, reaching 8,100–9,000 tons, compared with just 377 tons in 2024 – a 21- to 24-fold increase.
The company’s annual revenue is projected at $125–140 million, up from $39.6 million last year, while EBITDA is expected to recover to $40–50 million following a 2024 operating loss of $5.4 million.
Anglo Asian Mining operates in Azerbaijan under a production sharing agreement (PSA) signed on August 21, 1997. The company currently holds rights to eight contract areas across the country but conducts active extraction at two – Gedabek and Gosha.
Under the agreement, Azerbaijan’s share, represented by state-owned AzerGold CJSC, is 51%, while AAM holds 49%.
