REG - Anglo Asian Mining - Revised production guidance for FY 2025

Anglo Asian MiningAnnouncement

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RNS Number : 6264C  Anglo Asian Mining PLC  09 October 2025

 

9 October 2025

Anglo Asian Mining plc

Revised production guidance for FY 2025

 

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed copper
and gold producer focused in Azerbaijan is pleased to announce its revised
production guidance for the 12 months ended 31 December 2025 ("FY 2025").

 

The Group has recently brought the Gilar and Demirli mines into production
which has changed its production profile as it executes its strategic shift to
become a producer of mainly copper. The Group's Demirli mine entered
production in July and is currently completing commissioning to ramp-up to its
design capacity. The Company's production expectations for 2025 have therefore
increased based on the additional production at Demirli.

 

As recently announced, ore at Gilar is being mined from high grade zones, so
the Company has installed a second, automated filter press at its Gedabek
flotation plant. The Group has also taken the strategic decision to expand the
Gedabek flotation plant by the addition of two further filter presses and
additional flotation cells. Higher grade Gilar ore, which is grading around
3.5 to 4 per cent. copper and 2 grammes of gold per tonne, is currently being
stockpiled and will be processed in the expanded flotation plant early next
year in order to maximise recoveries. This will also be beneficial for 2026
production. The existing flotation plant continues to operate whilst these
upgrades are being made.

 

The Group is also currently stockpiling concentrate produced at its Demirli
mine. It is expecting all necessary operating permits will be obtained by the
end of October 2025 and concentrate sales will commence in November.

 

With Gilar and Demirli now in production and encouraging progress being made
at Xarxar and Garadag, the Group is well-positioned for the long-term and to
deliver its medium-term strategy to become a mid-tier producer. As a result of
the changes detailed above, its full year production guidance has been revised
to the following:

 

·    Copper of 8,100 to 9,000 tonnes

·    Gold of 25,000 to 28,000 ounces

 

FY 2025 guidance breakdown

The Group's revised production guidance for FY 2025 is as follows:

 

                         Notes          Full year 2024  Revised full year 2025 Guidance

                         1      Unit    Actual
 Copper production
    Gedabek              2      Tonnes  377             4,600 to 4,900
    Demirli              3      Tonnes  -               3,500 to 4,100
       Total Group              Tonnes  377             8,100 to 9,000

 Gold production
    Gedabek              2      Ounces  15,073          25,000 to 28,000

 Turnover                4      $m      40.9            125 to 140
 EBITDA                  4      $m      15.7            40 to 50

 

A detailed Production and Operations Review for the nine months to 30
September 2025 will be published later in October 2025.

 

Reza Vaziri, CEO of Anglo Asian Mining, commented:

"2025 is already a landmark year for Anglo Asian Mining, as we have commenced
production at two new mines, Gilar and Demirli. This makes us a multi-asset
producer, in line with our strategy, and we are on track to become a mid-tier
producer in the coming years when Xarxar and Garadag commence production.

 

Our guidance announced today reflects a year of significant change for the
Company as our production base continues to grow, having recently delivered
our record daily production. Supported by strong commodity prices and our
exciting organic growth strategy, we are well-positioned to deliver meaningful
growth in the years ahead."

 

Notes

1           The Group will no longer report its production or
guidance in Gold Equivalent Ounces given the increasing proportion of copper
in its production and current volatility of metal prices.

 

2           The FY 2025 Guidance for Gedebek has been impacted by
the restricted processing capacity of the filter press and thickener of the
flotation plant for ore being mined from high grade zones of Gilar. If
processed through the current flotation plant, this higher-grade ore chokes
the thickener as the filter press is unable to manage the quantity of
concentrate produced. Therefore, the higher grade copper is currently being
stockpiled. There were 71,188 tonnes of Gilar ore grading 3.83 per cent.
copper and 2 grammes of gold per tonne stockpiled at end September 2025.

 

A second automated filter press with a higher capacity has recently been
installed, allowing for efficient management of the increased copper feed.
Flotation processing continued during this installation. Blending of
high-grade copper ore with lower grade copper is ongoing, allowing for an
increased throughput to the two filter presses. However, a portion of the
high-grade ore will continue to be stockpiled until the flotation expansion
project is completed.

 

The Group is undertaking an additional expansion of the capacity of the
Gedabek flotation plant which will include installing specialised flotation
cells (Imhoflot), a thickener and an additional two filter presses and
associated equipment. This is expected to be completed during the first
quarter of 2026 (Q1 2026). The expansion will be carried out without any
interruption to the operation of the flotation plant.

 

3           The Demirli plant started operation in July 2025 and is
currently being commissioned. A ball mill at the plant has also recently been
brought into operation to work alongside the operating SAG mill. The Demirli
guidance is based on data from an old block model of the ore body which is
incomplete and there is currently also no deep geological block model for the
Demirli deposit. This makes mining scheduling of ore feed to the flotation
plan problematic. However, feed rates to the plant are continuing to increase
as the process equipment is commissioned and the process capability
expanded.  The guidance may therefore be subject to revision as commissioning
continues throughout the rest of 2025.

 

4           The turnover and EBITDA guidance uses a gold price of
$3,500 per ounce and a copper price of $10,000 per tonne for the quarter from
October to December 2025 (Q4 2025).

 

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

 Kristina Gaysina

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 377 tonnes of copper and 15,073 ounces of gold for the year
ended 31 December 2024. In the six months to 30 June 2025, the Company
produced 1,188 tonnes of copper and 12,115 ounces of gold.

 

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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