AAM to invest $2.5 million in gold enrichment plant in Azerbaijan

22.11.2022,17:42

November 22, Fineko/abc.az. Anglo-Asian Mining Plc. (AAM), a British company engaged in gold, silver and copper mining in Azerbaijan, has begun expansion process to double capacity and increase operational flexibility of its flotation plant, ABC.AZ reports, citing company's CEO Reza Veziri.

He said that expansion of the flotation plant will allow the mining company in the short and medium term to increase throughput capacity for processing ore from new mines, including from Zefer field, whose production start is scheduled for the 2nd half of 2023. In general, expansion of the plant will help the company achieve its goal of becoming a mid-level mining company producing annually precious metal equivalent to 100,000 ounces of gold.

Veziri added that expansion of the plant will cost $2.5 million for AAM, and the costs will be covered by company's internal funds.