Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said production this year will be between 15,000 and 19,500 gold equivalent ounces (GEOs) comprising 250 to 850 tonnes of copper and 14,000 to 16,000 ounces of gold.
The Ajerbaijan-based miner only received permission to raise its tailing dam wall and restart production at its Gedabek mine this month, after almost a year of disruption.
Work on the tailings dam wall is said to be progressing well, with the first raise of 2.5 metres to be completed within three months.
Anglo Asian added that the agitation leaching plant has also undergone extensive renovation and refurbishment during the last 12 months while it was idle.
Full production from the agitation leaching plant will restart in mid-September, initially processing 97,000 tonnes of stockpiled ore.
The flotation plant will restart in November on an independent basis using fresh ore from the existing open pit.
Anglo Asian added it expects the first ore to be mined from its new mine at Gilar in December, with the planned extraction and processing of approximately 35,000 to 40,000 tonnes of ore grading 1.6 grammes of gold per tonne and 2% copper in the month.
Processing will be reconfigured to treat its ore, and the agitation leaching plant will initially process Gilar ore with the further processing of its tailings by flotation to produce copper.
Reza Vaziri, Anglo’s chief executive, commented: "We are pleased to guide for this year of between 15,000 and 19,500 gold equivalent ounces as we return to full production and regular operations after receiving authorisation to raise the tailings dam wall.
“The tailings dam wall raise is progressing well, and we expect the first stage to be completed within the next three months.
"We have used well this period of a partial shut-down of production. In addition to extensive overhaul and refurbishment of our existing processing operations, we have completed extensive preparatory work that will enable us to deliver our strategic growth plan to become a multi-asset, mid-tier primarily copper producer."