Business
Production of one million gold equivalent ounces
Anglo Asian Mining PLC has achieved a significant milestone, producing over one million gold equivalent ounces from its Azerbaijani mines by the end of January 2026, comprising approximately 851,000 ounces of gold, 1.9 million ounces of silver, and over 30,000 tonnes of copper. This achievement follows the company's expansion into a multi-asset producer with the commencement of operations at the Gilar and Demirli mines in 2025. The company anticipates a substantial increase in copper production for 2026, with copper expected to become its principal product by 2030. Disclaimer*
About this update from Anglo Asian Mining Plc
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) Ewan Leggat Adam Cowl Tel: +44 (0) 20 3470 0470 Hudson Sandler (Financial PR) Charlie Jack Harry Griffiths Tel: +44 (0) 20 7796 4133 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/
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