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Anglo Asian targets up to 77,000 ounces of gold, 2,100 tonnes of copper in FY'16

Anglo Asian MiningPlc said April 13 that it is targeting gold production of between 73,000ounces and 77,000 ounces this year.

Copper production target for the year is between 1,700 tonnesand 2,100 tonnes, the company added.

The gold production target includes about 4,000 ounces to 5,000ounces from the flotation plant, while the copper output will include between 700tonnes and 800 tonnes from SART processing and between 1,000 tonnes and 1,300 tonnesfrom flotation.

Anglo Asian produced 14,172 ounces of gold in the first quarter,down from 17,930 ounces in the fourth quarter of 2015. Silver production for thequarter totaled 34,342 ounces, compared to 17,710 ounces in the prior quarter, whilecopper production totaled 432 tonnes, up from 335 tonnes in the fourth quarter lastyear.

The company produced the firstbatch of about 125 wet tonnes of copper flotation concentrate at itsGedabek gold-copper-silvermine in western Azerbaijan.