Anglo Asian Mining Enters Copper Production at Demirli Mine

Anglo Asian Mining has begun production at its Demirli copper mine in Azerbaijan, marking the second new mine to enter production for the group this year. The move supports the company's strategy to become a mid-tier copper producer, with expected production of 4,000 tonnes of copper in concentrate for 2025, rising to 15,000 tonnes per year from 2026 onwards. The mine has created 150 new full-time jobs and has the potential for additional mineral resources.

Anglo Asian Mining Plc (LSE: AAZ, OTC: AGXKF) has commenced production at its Demirli copper mine in the Karabakh Economic Region of Azerbaijan, marking the second new mine to enter production for the group this year [1]. The move supports the company's strategy to become a mid-tier copper producer, with expected production of 4,000 tonnes of copper in concentrate for 2025, rising to 15,000 tonnes per year from 2026 onwards [1]. The mine has created 150 new full-time jobs and has the potential for additional mineral resources [1].

Commissioning at Demirli is underway, with output expected to increase gradually until the end of the year. The total life of the mine will be established as further geological work is completed. Ore is being extracted from a large open pit and transported by truck to a nearby flotation plant, which separates copper minerals from the rock. Power is being supplied from Azerbaijan’s national electricity grid, while water is sourced locally and from regional supplies [1].

Anglo Asian has recently received its first independent sustainability rating from Digbee Limited, reflecting its focus on environmental, social, and governance standards in mining [1]. The company has also completed a full environmental and social impact assessment for the project [1].

Chief executive Reza Vaziri stated, “Production from Demirli is a significant step in the company transitioning into a multi-asset, mid-tier mining company focused in Azerbaijan” [1]. The company aims to achieve this growth by bringing several new mines into production, including the recently commissioned Gilar and Demirli mines [3].

Anglo Asian's stock price has been performing well, with a 12-month change of 90% and a current stock price of 165.11 pence, closed down 2.0% in London on Tuesday [2]. The company reported positive cash flow of USD1.8 million in the first half of 2025, decreasing net debt to USD13.0 million as at June 30 [2].

References:
[1] https://www.proactiveinvestors.co.uk/companies/news/1075079/anglo-asian-mining-begins-production-at-demirli-copper-mine-supporting-growth-strategy-1075079.html
[2] https://www.marketscreener.com/quote/stock/ANGLO-ASIAN-MINING-PLC-4005431/news/Anglo-Asian-Mining-production-balloons-in-second-quarter-50517412/
[3] https://www.tipranks.com/news/company-announcements/anglo-asian-mining-begins-production-at-demirli-copper-mine