15th Jan 2026 15:32
(Alliance News) - Anglo Asian Mining PLC on Thursday hailed a "transformational year" with increased copper output in its fourth quarter.
The stock traded 7.0% higher at 297.34 pence per share in London on Thursday afternoon.
The Azerbaijan-focused gold, copper and silver producer reported copper production totalling 7,915 tonnes for 2025, up from 377 tonnes in 2024.
However, this was lower than Anglo Asian's revised guidance of 8,100 to 9,000 tonnes, which it attributed to maintenance at its Demirli ball mill restricting ore throughput. Demirli production was 3,128 tonnes, below the firm's guidance range of 3,500 to 4,100 tonnes.
For the fourth quarter, production rose 94% to 4,439 tonnes from 2,288 tonnes, which Anglo Asian said was thanks to higher output from the Gedabek and Demirli mines.
Gold production for the year rose to 25,061 ounces from 15,073 ounces, landing in the lower end of its revised guidance range of 25,000 to 28,000 ounces. Fourth-quarter production decreased on-quarter to 6,149 ounces from 6,798 ounces.
Finally, annual silver production multiplied on-year to 153,332 ounces from 28,258 ounces. Fourth-quarter production increased on-quarter to 49,361 ounces from 41,623 ounces.
Total sales proceeds for 2025 surged to USD125.7 million from USD40.2 million in 2024. For the last quarter, they more than doubled on-quarter to USD57.3 million from USD27.8 million.
"2025 was a truly transformational year for Anglo Asian, during which time we became a multi-asset producer in line with our growth strategy, and achieved considerable momentum within our copper operations," commented Chief Executive Officer Reza Vaziri. "We were disappointed to slightly miss our copper production guidance as a result of the maintenance required to the Demirli ball mill.
"However, this was offset by excellent sales and favourable metal prices. I was especially pleased with our cash performance and that we closed the year with net cash. This turnaround in net debt in 2025 has been a remarkable achievement."
Anglo Asian reported net cash of USD2.5 million as of December 31, swinging from net debt of USD14.8 million one year prior.
"We enter the year in a very strong position," Vaziri said. "Demirli and Gilar are now both operating in line with our expectations and metal prices remain favourable. We are also making encouraging progress at our exciting copper growth projects, the Xarxar and Garadag deposits."
Speaking of the Demirli mine, Anglo Asian said the ball mill is scheduled to be operational by the end of the first quarter.
By Emma Curzon, Alliance News reporter
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