11:36 - 22.05.2025

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May 22, Fineko/abc.az. Anglo Asian Mining PLC, a British company engaged in gold, copper and silver mining in Azerbaijan, recorded revenue of $39.6 million in 2024 (14% less than $45.9 million in the previous year).

ABC.AZ informs, referring to company's report, that the decline is linked with a drop in production volumes. However, the increase in metal prices partially offset this decrease. In 2024, according to the report, the processes of agitation leaching and flotation were suspended.

The content of precious metals in the processed ore turned out to be low, as mining was carried out mainly in Gedabek open pit and Gadir underground mine, which are in the final stages of operation.
Company's pre-tax loss was $21.3 million, compared with $32 million in 2023. The operating loss in 2024 was $18.8 million versus $24.8 million a year earlier. It is explained with strict cost control and the write-off of the value of two large assets in the previous year.