Azerbaijan's top gold producer will begin production there next month.
Azerbaijan Mining News
Better gold prices also helped the Azerbaijan-focused miner reduced its outstanding debts and boost profit.
The company produced 49,874 ounces of gold in the nine months to September, or 7.8% less than in the same quarter last year. It also cut its 2016 production target.
Gold production fell 17.6% to 14,172 ounces in the first quarter of the year due mainly to harsh winter conditions.
The miner increased production by 32.8% to 35,938 ounces between January and June at its flagship Gedabek mine.
The Gedabek mine expects to exceed its target to produce 595 tonnes of copper for 2014.
As a the result of a new Agitation Leaching Plant at its flagship Gedabek mine in Azerbaijan.
The three former Soviet republics, together, bought 75% more gold last month than they did in March.
Anglo Asian Mining disclosed Tuesday a surge in gold production at its flagship gold, copper and silver mine, in Azerbaijan, in the third quarter.
Anglo Asian (LON:AAZ) shares were up 3% to 35 pence this morning on news that the government of Azerbaijan has approved the development of the group's second gold mine in the country, Gosha.