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(Sharecast News) - Anglo Asian Mining announced the start of production at its Demirli copper mine in Azerbaijan's Karabakh Economic Region on Monday, marking the second new mine to enter production for the company this year and advancing its strategy to become a multi-asset, mid-tier copper producer.
The AIM-traded miner said commissioning was ongoing, and that output was expected to ramp up through the rest of 2025, with initial copper concentrate production forecast at 4,000 tonnes for the year.
From 2026 onwards, annual output was expected to rise to around 15,000 tonnes.
A full mine life estimate would be determined following further development of the mineral resource model.
Ore at Demirli is extracted via open-pit mining and transported by truck to an on-site flotation plant.
The facility is powered by the national grid, with water sourced locally.
Tailings are currently being directed to an existing dam, pending the development of a newly designed site, for which geotechnical and engineering work is already complete.
A full environmental and social impact assessment was conducted, and Anglo Asian said it remained committed to high standards of ESG performance.
In June, the company received its inaugural sustainability rating from Digbee, an independent ESG benchmarking firm for the mining sector.
Approximately 150 new full-time employees were recruited to support the Demirli operation, with 50 experienced staff transferred from other company sites to assist with the ramp-up.
Contractors were also on-site under the supervision of Anglo Asian's technical and administrative teams.
"It is hard to overstate the achievement of starting production from Demirli in such a short time," said chief executive Reza Vaziri.
"Production from Demirli is a significant step in the company transitioning into a multi-asset, mid-tier mining company focused in Azerbaijan.
"Demirli, in particular, will contribute to the renaissance of the Karabakh Economic Region."
The company said it planned to issue revised production guidance for 2025 in due course and said further exploration work at Demirli and in surrounding areas would be carried out to assess additional resource potential.
At 1116 BST, shares in Anglo Asian Mining were up 4.29% at 173.12p.
Reporting by Josh White for Sharecast.com.