RCS - Anglo Asian Mining - Production of one million gold equivalent ounces

Anglo Asian MiningAnnouncement

12/03/2026 07:00

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RNS Number : 3103W  Anglo Asian Mining PLC  12 March 2026

12 March 2026

 

Production of one million gold equivalent ounces

 

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM listed gold,
copper and silver producer primarily focused on Azerbaijan, is pleased to
announce that its mines in Azerbaijan have passed an important milestone of
producing over one million gold equivalent ounces since the start of
operations.

 

Anglo Asian first started producing gold and silver by heap leaching ore mined
from an open pit at Gedabek in 2009. Last year, in-line with its growth
strategy, Anglo Asian became a multi-asset producer. It brought both the new
Gilar, underground copper and gold mine, and Demirli open pit copper mine into
production. Following this transformational change to Anglo Asian's asset
portfolio and production capabilities, the Company has now verified that total
production of over one million gold equivalent ounces since start-up in 2009,
was achieved at the end of January 2026. This comprised approximately 851,000
ounces of gold, 1.9 million ounces of silver and over 30,000 tonnes of copper.

 

As announced in February, the Company anticipates that 2026 will be a pivotal
year, where copper production is expected to triple with increased
contributions from the Gilar and Demirli mines both of which commenced
production in 2025.

 

Stephen Westhead, Vice President of Anglo Asian, commented:

"I am delighted that Anglo Asian has reached this important milestone,
producing over one million gold equivalent ounces. Our operational
capabilities have evolved significantly over recent years, culminating in
becoming a multi-asset producer last year. Congratulations to the whole team
for their hard work on this achievement, which has been delivered through the
continuous growth and development of our operations."

 

For further information please contact:

 

 Anglo Asian Mining plc
 Reza Vaziri, Chief Executive Officer                           Tel: +994 12 596 3350
 Bill Morgan, Chief Financial Officer                           Tel: +994 502 910 400
 Stephen Westhead, Vice President                               Tel: +994 502 916 894
 Amir Vaziri, Chief Business Development Officer                Tel: +1 (301) 332 9938

 SP Angel Corporate Finance LLP (Nominated Adviser and Broker)  Tel: +44 (0) 20 3470 0470

 Ewan Leggat

 Adam Cowl

 Hudson Sandler (Financial PR)                                  Tel: +44 (0) 20 7796 4133

 Charlie Jack

 Harry Griffiths

 

About Anglo Asian Mining

Anglo Asian Mining plc (AIM:AAZ) is a copper and gold producer with a
high-quality portfolio of production and exploration assets in Azerbaijan. The
Company produced 7,915 tonnes of copper and 25,061 ounces of gold for the year
ended 31 December 2025.

 

The Company's strategic plan for growth shows a clearly defined path for the
Company to transition to a multi-asset, mid-tier, copper and gold producer by
2030, by which time copper will be the principal product of the Company, with
forecast annual production of around 50,000 to 55,000 tonnes of copper. It
plans to achieve this growth by bringing into production three new mines
during the period 2027 to 2030 at Xarxar, Garadag and Zafar, in addition to
the newly opened Gilar and Demirli mines. Production commenced at the Gilar
mine in May 2025 and Demirli in July 2025. https://www.angloasianmining.com/
(https://www.angloasianmining.com/)

 

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