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Anglo Asian Mining sees fall in annual gold production following Ugur mine depletion
StockMarketWire.com
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Gold, copper and silver producer Anglo Asian Mining said it expected a fall in annual gold production, following depletion of its Ugur mine.
Gold production for FY 2021 was expected in the range of 48,000 to 54,000 ounces, down from 56,864 ounces of gold reported in 2020.
'This year we will only be mining from our existing Gedabek open pit and Gedabek and Gadir underground mines. Gold production is therefore expected to be lower as there will be no contribution from Ugur, which was depleted in 2020,' the company said.
Copper production was forecast in the range of 2,500 to 2,800 tonnes, up from 2,591 tonnes of copper last year.
Total metal production for FY 2021 was expected in the range of 64,000 to 72,000 GEOs, compared with 67,249 GEOs last year.
The forecasts as the company reported a fall in gold production, and a rise in silver and copper production for Q1.
Gold production for Q1 2021 fell to 11,907 ounces from 15,867 ounces, copper production for Q1 2021 increased by 14% and silver production rose to 35,365 ounces from 34,642 ounces.
At 9:50am: (LON:AAZ) Anglo Asian Mining PLC share price was 0p at 135p
Story provided by StockMarketWire.com
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