BAKU, Azerbaijan — Anglo Asian Mining has lowered its 2026 gold-production forecast for Azerbaijan to 26,000–30,000 ounces from a previous range of 28,000–33,000 ounces.
The company attributed the revision to variability in the concentration of gold-bearing minerals in ore from the Gilar deposit. Gold recovery during the first half of the year was lower than expected.
Copper and Silver Targets Unchanged
Anglo Asian Mining kept its forecasts for other metals unchanged. The company continues to expect copper output of 20,000–25,000 metric tons and silver production of 170,000–210,000 ounces in 2026.
It also lowered its forecast for the all-in cost of copper production to $6,000–$7,000 per metric ton from an earlier estimate of $6,800–$7,800.
The miner produced 8,840 metric tons of copper in the first half of 2026, its highest six-month copper output on record.
Anglo Asian Mining produces gold, copper and silver from mining operations in Azerbaijan. The revised outlook signals that strong copper performance is partly offsetting weaker-than-expected gold recovery at Gilar.