REG - Anglo Asian Mining - Processing plant upgrades at Gedabek and Demirli

Anglo Asian MiningAnnouncement

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RNS Number : 5489B  Anglo Asian Mining PLC  23 April 2026

23 April 2026

 

Processing plant upgrades at Gedabek and Demirli and progress on commencing
Garadag and Xarxar feasibility studies

 

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed
copper, gold and silver producer focused in Azerbaijan, is pleased to announce
significant upgrades to its processing plants at both its Gedabek and Demirli
operations.

 

The Gedabek flotation plant upgrade is on course to be completed by the end of
April. The nine newly-installed, high-efficiency Imhoflot pneumatic flotation
cells are designed to deliver rapid mineral recovery from higher grade ores.
The cells are capable of processing the higher-grade ore from the Gilar mine
and are expected to improve gold and copper recoveries over those obtained by
conventional flotation. They will thus enhance the Company's ability to
process higher grade ore from the Gilar mine and add to the versatility of the
Gedabek flotation plant. The upgrade was carried out for the modest cost of
approximately $1.8 million and will deliver meaningful margin enhancement and
improved profitability of the Company over the long term.

 

Gedabek's broader processing capabilities have also been upgraded, including
the addition of an Energy Efficient Pulp Lifter ('EEPL') system to increase
milling productivity, an industrial shredder and a new licensed maintenance
programme. Further works are also planned at Gedabek's tailings facilities, to
include the installation of a fibre optic tailings dam embankment monitoring
system.

 

At Demirli, both the SAG mill and ball mill are now operational as a
replacement gear box shaft for the ball mill was installed during Q1 and is
performing well. Leach tests with a bio-heap leach column at Demirli are also
underway and are delivering encouraging results, with up to 78 per cent.
copper recoveries. This indicates strong potential for the future
implementation of bio-heap leaching production which continues to be subject
to further evaluation.

 

The Group also continues to progress its feasibility studies for the Xarxar
and Garadag mines and expects to appoint consultants in the coming weeks.
Pilot mining studies are underway at Garadag, with independent third parties
assessing the geological and metallurgical considerations to ensure the most
effective development of the mine. Planning is ongoing to test the Xarxar ores
for copper bio-heap leach processing.

 

Stephen Westhead, Vice President of Anglo Asian Mining, commented:

"I am pleased to announce these significant investments into our processing
operations across our Gedabek and Demirli operations. Investing in our
processing capacity is particularly important as we seek to maximise returns
from expected increased production volumes in the years ahead while executing
our growth strategy. We also continue to make encouraging progress at our
future Xarxar and Garadag projects, both representing important assets for
Anglo Asian in the years ahead."

 

Note that all references to "$" are to United States dollars.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No
596/2014, which was incorporated into UK law by the European
Union (Withdrawal) Act 2018, until the release of this announcement.

 

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
                                                                                                                                                              Tel: +44 (0) 20 7418 8900

 Peel Hunt LLP (Broker)

 Ross Allister
 David McKeown
 Emily Bhasin

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

 Ewan Leggat

 Adam Cowl

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

 Charlie Jack

 Harry Griffiths

 

Notes to editors

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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