Britain's Anglo Asian Mining to launch major copper extraction project in Karabakh

Anglo Asian Mining Plc (AAM), a British company engaged in the extraction of gold, silver, and copper in Azerbaijan, plans to start copper mining at the "Demirli" copper-molybdenum mine in Azerbaijan's Karabakh Economic Region in 2025.

According to a company statement, the strategic growth plan of AAM aims to transform the company into a mid-tier, multi-metal producer of copper and gold by 2029, Caliber.Az reports via local media.

By then, copper is expected to become the company’s primary product, with a projected output of approximately 50,000 to 55,000 tonnes of copper equivalent.

The company intends to achieve this growth through the development of four new mines between 2025 and 2029, located at Zafar, Gilar, Kharkhar, and Garadag.

AAM has also been assessing its mining asset at "Demirli," which it gained access to in 2024, with plans to resume production at the site by the end of 2025.

Currently, Anglo Asian Mining is involved in the extraction of precious metals from the Gedabek and Gosha contract areas. A Production Sharing Agreement (PSA) was signed on August 21, 1997, covering the development of six deposits.

Under the terms of the contract, Azerbaijan holds a 51% stake, while AAM holds the remaining 49%. The company currently holds rights to explore eight contract areas in Azerbaijan.

By Aghakazim Guliyev