BAKU, Jan 28 (Reuters) - Azerbaijan's main gold producersaid on Tuesday it missed its output goal for 2013 due to badweather and processing problems, but said it still aimed toincrease output more than fivefold by next year.
London-listed Anglo Asian Mining Plc said it raisedproduction at Azerbaijan's main mine, Gedabek, to 52,068 ouncesfrom 50,025 in 2012.
"We are disappointed to have missed our production targetfor the year due to unexpected weather conditions and processingissues," Anglo Asian CEO Reza Vaziri said in a statement.
The company had not disclosed targets for 2013, though asource there last year mentioned a figure of 80,000 ounces.
The statement also reaffirmed the group's plans to increaseannual production in the country to 300,000 ounces by 2015. Itplans to start production at the Gosha mine, 50 km from Gedabek,this year.
Overall gold output in the Caucasus republic rose 3.6percent to 57,144 ounces (1.619 tonnes) in 2013, its nationalstatistics office said on Tuesday.
Gold is produced at Gedabek and other Azeri mines under aproduction venture with Anglo Asian in which the government owns49 percent.
Anglo Asian began production at Gedabek, 350 km west of thecapital Baku, in July 2009 and plans to extract a total of 22tonnes of gold from the mine.
The company commissioned an agitation leaching plant atGedabek in June 2013 and plans to install a Knelson concentratorin the second quarter of 2014, hoping to isolate coppersulphides that were found to have restricted gold recoveries inthe leach tanks in 2013.
"We are taking steps to ensure we maximise our output ...and ...aim to double production from the heap leaching operationthrough efficiencies," CEO Vaziri said.
Overall, Anglo Asian - - which is controlled by R.V.Investment Group Services - plans to develop seven mines inwestern Azerbaijan with estimated gold reserves of 430 tonnes.
Azerbaijan added just under 1 tonne to its gold reserves inDecember, International Monetary Fund data showed on Tuesday.
Anglo Asian (AAZ)
