LONDON (Alliance News) - Anglo Asian Mining PLC on Monday said it is making progress on the Gedabek gold, copper and silver mine project in Azerbaijan.
The company said construction of the small scale flotation plant is progressing well, with the main building completed and flotation cells now being installed.
Anglo Asian said in-house testing and engineering studies have demonstrated the feasibility for a small scale flotation plant to improve not only copper production, as had been originally targeted, but also gold and silver recoveries.
The final design of the plant will be modified to reflect the results of this testing, with commissioning of the plant targeted for the third quarter of 2015.
"Recent test work and engineering studies have shown that flotation should enable us to achieve much higher production of precious metal and copper than previously anticipated. It should also help solve the issue of the low recoveries recently being experienced by the agitation leaching plant, which is the main process to recover gold at Gedabek," said Chief Executive Officer Reza Vaziri.
"In addition, the revised specification of the small scale flotation plant will give us flexibility in processing the poly-metallic ore at Gedabek," Vaziri added.
Shares in Anglo Asian were up 8.6% to 4.887 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Anglo Asian (AAZ)