LONDON (Alliance News) - Anglo Asian Mining PLC on Tuesday said its recently commissioned flotation plant is now in production, with the first batch of a copper flotation concentrate having been produced.
The AIM-listed gold, copper and silver producer, which is focused on Azerbaijan, said about 125 wet tonnes of copper flotation concentrate has been produced.
It said 62 wet tonnes of the first batch of concentrate was shipped on Sunday.
Flotation concentrate will be sold to Industrial Minerals SA under an existing off-take contract.
Initial weekly production of 150 wet tonnes of concentrate is now planned while production is ramped up, the company said.
"As we approach the end of the year, we are pleased to have narrowed our full year 2015 gold production target to achieve between 72,000 and 74,000 ounces of gold. This represents an increase of approximately 19% to 23% compared to the full year 2014 production of 60,285 ounces of gold," Chief Executive Reza Vaziri said in a statement.
Shares in Anglo Asian Mining were down 1.5% at 5.05 pence on Tuesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Anglo Asian (AAZ)