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Anglo Asian Mining increases gold production 9%

17 January 2017 14:06 (UTC +04:00)

Anglo Asian Mining PLC on Tuesday said silver and copper production at the Gedabek mine in western Azerbaijan increased in the fourth quarter of 2016 and in the year on the whole, but gold production decreased.

Anglo Asian said gold production in the fourth quarter totalled 15,483 ounces, down from 16,534 in the third quarter, meaning gold production in 2016 overall decreased by 9% to 65,394 ounces from 72,032 ounces in 2015.

Copper production, meanwhile, increased in the fourth quarter to 578 tonnes from 485 tonnes in the third quarter, helping full-year production to more than double to 1,941 tonnes from 969 tonnes in 2015.

Lastly, silver production increased to 50,216 ounces in the fourth quarter from 33,899 ounces in the third quarter, leading to a 5.8 times increase in annual production to 165,131 ounces from 28,626 ounces in 2015.