Anglo Asian Mining forecasts uptick in production for 2018
Source - SMW
Anglo Asian Mining said it expects 2018 production to rise 13% to 78,000 to 84,000 gold equivalence ounces compared to previous year production of 71,461 driven by optimisation initiatives undertaken at Gedabek.
The miner forecasts production for full year 2018 of between 64,000 to 70,000 ounces of gold compared with full year 2017 production of 59,617 ounces of gold. While copper production is expected at between 2,100 to 2,300 tonnes compared with full year 2017 production of 1,991 tonnes of copper.
Anglo Asian CEO Reza Vaziri said: '2018 is shaping up to be a year of delivery for Anglo Asian with production of between 78,000 to 84,000 gold equivalent ounces planned by our operational team.'
'The mid-point of this guidance is over 13 per cent. higher than FY 2017 production and continues the upward trajectory from last year which we believe will continue in the coming years.'
'As in previous years, the second half of 2018 is expected to be better than the first due to seasonal factors and the added momentum of the flotation plant processing on a stand-alone basis from Q2 2018.'
At 8:22am: (LON:AAZ) Anglo Asian Mining PLC share price was -1p at 37p