Anglo Asian reaches best-ever gold production

Anglo Asian reaches best-ever gold production

Agitation Leaching Plant development

Anglo Asian’s (LON:AAZ) stock jumped over 4% Thursday as the miner reported it increased gold production at its flagship Gedabek mine in Azerbaijan by 31% in the third quarter, compared to last year.

The gold, copper and silver mining company said the crucial rise was the result of a new Agitation Leaching Plant, commissioned in June, which contributed 14,138 to the third-quarter total.

Anglo Asian’s total gold production increased to 20,242 ounces for the three months ended September 30 compared to 14,044 ounces in the same period last year.

The miner noted that, against the growth in production, prices have significantly fallen during the year, with the weighted average gold sales price falling from $1,655 in 2012 to $1,328 this year.

Image courtesy of Anglo Asian.

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