Anglo Asian posts record first-half copper production - Mining Weekly

AI desk brief

Anglo Asian Mining cut full-year gold guidance to 26,000-30,000 oz from 28,000-33,000 oz after variability in the Gilar orebody, while keeping silver guidance at 170,000-210,000 oz and lifting copper output to a record 8,840 t in H1 versus 1,188 t a year earlier. The company said higher metal prices are supporting revenue and that its copper unit costs are improving as Demirli ramps toward full production by Q4.

Profit before tax rose to $68.5m from $7.1m, with operating cash flow of $78.5m and net cash of $57m at June 30. Anglo Asian reiterated its transition toward a mid-tier copper producer by 2030, with Xarxar and Garadag expected to start production in 2028 and 2029.