Anglo Asian Mining’s First Ore from Gilar Underground Deposit: A Step Forward in Mining Operations
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) recently made an exciting announcement to its investors. The company has successfully mined the first ore from its Gilar underground deposit, which is part of its Gedabek operation located in Azerbaijan. This achievement marks a significant milestone in the company’s mining operations.
First Ore Mining Details
According to the company’s statement, a total of 1,267 tonnes of ore was mined earlier this month. The average grade of copper in this ore was reported to be 0.65%, and it contained 1.36 grams per tonne of gold. These figures indicate a promising start for the Gilar underground deposit.
Impact on Anglo Asian Mining
This successful mining operation is expected to boost Anglo Asian Mining’s production figures. The company has been performing well in recent years, with its revenue growing from £135.8 million in 2017 to £191.5 million in 2020. With the addition of the Gilar deposit, the company’s production is expected to increase further.
- Increased revenue: The higher production from the Gilar deposit is likely to contribute to Anglo Asian Mining’s revenue growth.
- Expanded mining operations: The successful mining of the first ore from the Gilar deposit demonstrates the company’s ability to expand its mining operations, which could lead to further exploration and development of new deposits.
Impact on the World
The mining industry is a crucial contributor to the global economy. The successful mining of the first ore from Anglo Asian Mining’s Gilar underground deposit could have several positive effects on the world:
- Economic growth: The increased production from Anglo Asian Mining is likely to contribute to the economic growth of Azerbaijan and the global mining industry.
- Job creation: The expansion of mining operations could lead to the creation of new jobs, both directly and indirectly, which could help boost employment in the region.
- Resource security: The successful mining of the first ore from the Gilar deposit highlights the importance of resource security. With the global demand for minerals and metals continuing to grow, the discovery and extraction of new deposits are essential to meet this demand.
Conclusion
Anglo Asian Mining’s successful mining of the first ore from its Gilar underground deposit is a significant achievement that marks a step forward in the company’s mining operations. This milestone is expected to contribute to the company’s revenue growth and expanded mining operations. Furthermore, it could have positive impacts on the global economy, creating jobs and ensuring resource security.
The mining industry plays a vital role in the global economy, and the discovery and extraction of new deposits are essential to meet the growing demand for minerals and metals. With the successful mining of the first ore from the Gilar deposit, Anglo Asian Mining is well-positioned to contribute to the industry’s growth and development.
Overall, this achievement is a reminder of the importance of the mining industry and the potential it holds for economic growth, job creation, and resource security.
