TBILISI, July 13 (Reuters) - Azerbaijan's top gold producer,Anglo Asian Mining Plc, increased its output by 32.8percent to 35,938 ounces in the first half of 2015 and targetedproduction of 70,000 to 75,000 ounces for the year.
The company increased its gold output by 16 percent to60,285 ounces in 2014, hitting its target for the year.
The London-listed firm also said it increased production ofcopper at Azerbaijan's main mine, Gedabek, and the Gosha mine to418 tonnes in the January to June period from 369 tonnes in thesame period last year.
Silver output fell to 6,477 ounces from 21,924 ounces.
"We are delighted to report continuation of the exceptionalgold, copper and silver production seen in Q1 2015 with recordgold production for the half year of 35,938 ounces," Anglo AsianCEO Reza Vaziri said in a statement on Monday.
"This exceeded our internal production estimate and ideallypositions Anglo Asian for a strong remainder of 2015."
He said the company was making good progress on building asmall scale flotation plant and the necessary modifications toenable it to process the tailings of the agitated leach plant.
The plant is expected to be commissioned in the thirdquarter of this year and add approximately 5,000 ounces of goldand 1,200 tonnes of copper this year.
Gold sales in the second quarter totalled 16,088 ounces atan average price of $1,193 per ounce. In the first quarter thecompany sold 17,206 ounces at an average price of $1,214.
Gold is produced at Gedabek and other Azeri mines under aproduction venture with Anglo Asian, in which the governmentowns 49 percent.
Anglo Asian began production at Gedabek, 350 km west of thecapital Baku, in July 2009 and plans to extract 22 tonnes ofgold from the mine.
Overall, Anglo Asian plans to develop seven mines in westernAzerbaijan with estimated gold reserves of 430 tonnes. (Reporting by Margarita Antidze; editing by David Clarke)
Anglo Asian (AAZ)
