OREANDA-NEWS. January 18, 2018. Azerbaijan’s top gold producer, Anglo Asian Mining, said oits yearly output had fallen 1.2% in 2017 to 71 461 oz, still within its target range of 64 000 to 72,000 ounces.

The London-listed firm said copper production rose 2.6% to 1 991 t, and silver output rose 4.7% to 172 853 oz.

Anglo Asian started a significant exploration programe at the end of 2016 after making a new gold discovery at Ugur, 3 km from its Gedabek processing facilities.

Gold bullion sales in 2017 totalled 43 496 oz at an average price of $1 265/oz, down from 53 281 oz sold in 2016 at an average of $1 253/oz.