Azerbaijan News 15 October 2026 11:30 (UTC +04:00)
Photo: Trend News Agency
BAKU, Azerbaijan, October 15. Anglo Asian Mining had a net outflow of funds of $10.6 million in the 3 months ended 30 September 2026, the company said in its latest report.
“Cash decreased by $13.5 million to $56.5 million and debt reduced by $2.9 million to $9.4 million at 30 September 2026. Net cash accordingly decreased by $10.6 million to $47.1 million,” said the company.
Anglo Asian Mining noted that the main reasons for the decrease in net cash were as follows:
- Working capital increase in respect of concentrate sales of $30.1 million at the end of September for which the proceeds were received in October
- Profits tax payments of $5.4 million
- 2025 final dividend paid of $4.6 million
- Payments to the government of Azerbaijan in respect of production share on copper concentrate sales for the period July 2025 to February 2026 of $8.8 million following agreement of the amounts
Anglo Asian Mining saw a record copper production in the first nine months of 2026 at 14,354 tonnes, as compared to 3,476 tonnes in 9M 2025. As such, the company’s copper output rose by more than fourfold year-on-year.
As for Q3 2026, copper production continued to grow quarter-on-quarter to 5,514 tonnes in Q3 2026, as compared to 5,129 tonnes in Q2 2026, as “Demirli ramps up to full production by the end of November”.
Gold output has reached 6,781 ounces in Q3 2026, down from 6,798 ounces in Q3 2025. This is while in the first nine months of 2026, Anglo Asian Mining produced 19,110 ounces of gold, as compared to 18,912 ounces in the same period of 2025.
Anglo Asian Mining has increased silver production in Azerbaijan by 40.25% in the first nine months of 2026, as compared to the same period in 2025. Its silver output totaled 145,824 ounces from January through September 2026, up from 103,971 ounces in 9M 2025.
The third quarter also saw a significant growth of 27.25% year-on-year. Anglo Asian Mining produced 52,969 ounces of silver in Azerbaijan in Q3 2026 versus 41,623 ounces in Q3 2025.
The company maintains its full-year 2026 guidance of 20,000 to 25,000 tonnes of copper, 26,000 to 30,000 ounces of gold, and 170,000 to 210,000 ounces of silver.