Business
Agitation Leaching Plant - Full Commissioning
Agitation Leaching Plant - Full Commissioning.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \nRNS Number : 2985G Anglo Asian Mining PLC 05 June 2013 \n \n\nAnglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining\n5 June 2013\nAnglo Asian Mining plc ('Anglo Asian' or 'the Company')\nAgitation Leaching Plant - Full Commissioning\n \nAnglo Asian Mining plc, the AIM listed gold producer in Azerbaijan, is pleased to announce that following the commissioning of its new Agitation Leaching Plant at the Company's flagship Gedabek gold/copper/silver mine ('Gedabek') in western Azerbaijan, the plant is now in operation, with its first gold production due within the next 48 hours. \n \nThe Agitation Leaching Plant, which has been built US$7million under its US$52 million budget and US$15 million under the available funding facility, is expected to increase gold production and mine life at Gedabek, whilst lowering operating costs. The plant will have a capacity to treat 100 tonnes per hour of ore when it is fully operational, with estimated gold recoveries of 85% for oxide material and 69% for sulphide material; however additional testing is underway in order to further optimise these recovery rates. Gedabek produced 50,215 oz of gold at US$668 per oz for the full year 2012, and with the Agitation Leaching plant now in operation Anglo Asian's gold production for FY2013 is expected to increase by 20% to 60,000oz and 80-90,000oz in FY2014.\n \nAnglo Asian CEO Reza Vaziri said, \"We are delighted to announce that our Agitation Leaching Plant at Gedabek is now in operation, a significant milestone for Anglo Asian Mining, and one which should be transformational in terms of the future gold production for the Company. By processing the ore from our flagship Gedabek mine in the new plant we expect to significantly ramp up production in FY 2013 whilst substantially lowering operating costs to circa US$500 per oz of gold, which should set us apart from many of our peers, and improve our profit margin for this year and beyond. I look forward to providing further updates on the progress of our new Agitation Leaching Plant at this exciting time for the Company.\"\n \n**ENDS**\n \nFor further information please visit www.angloasianmining.com or contact:\n \n\n\n\n\nReza Vaziri\n\n\nAnglo Asian Mining plc\n\n\nTel: +994 ...