Anglo Asian Mining expands portfolio with additional output from Damirli, Gilar

The UK‑based company Anglo Asian Mining PLC (AAM), operator of gold deposits in Azerbaijan, generated $141.2 million in revenue during the first half of 2026.

According to Report, citing company data, Anglo Asian's pre‑tax profit amounted to $68.5 million, while net cash from operating activities reached $78.5 million in the January-June period.

During the six months, the company produced 12,329 ounces of gold, a 1.8% increase compared to the first half of 2025.

Copper output totaled 8,840 tons, which is 7.4 times higher than in January–June 2025. Silver production reached 92,855 ounces, marking a 48.9% increase year‑on‑year.

"This reflects the significant expansion of the company's portfolio, with additional production from the newly operational Damirli and Gilar mines. Strong production volumes have driven solid financial results," the statement said.

As of June 30, 2026, cash reserves stood at $70 million (compared to $30.2 million on December 31, 2025), while debt obligations fell to $12.3 million excluding leases (down from $27.7 million at the end of 2025).

The Production Sharing Agreement (PSA) signed on August 21, 1997 covered the development of six deposits, with Azerbaijan holding 51% and Anglo Asian Mining 49%.

Currently, AAM has rights to operate eight contract areas in Azerbaijan, but is engaged in precious metal production at only two sites – Gadabay and Gosha.