Anglo Asian Mining (LON:AAZ) said the first batch of copper concentrate produced from its flotation plant at the Gedabek mine has been shipped.
The Azerbaijan-focused metals company said 62 wet tonnes of the first batch of concentrate was shipped on 22 November with the remainder to be shipped imminently.
So far, 125 wet tonnes of copper flotation concentrate has been produced, and is destined for Industrial Minerals SA, the company’s off-take partner.
The plan is to ramp-up production at the plant from the initial output level of 150 wet tonnes a week.
"I am delighted to announce that our recently commissioned flotation plant is now in production and the first batch of a copper flotation concentrate has been produced,” said Reza Vaziri, Anglo Asian’s chief executive officer.
“This is a highly credible performance by our technical and production team at Gedabek. The sales of concentrate produced by the flotation plant are an important part of our plans to return Anglo Asian to profitability,” he added.
The company also revealed it is on course to increase full-year gold production by around one-fifth from 2014’s output level.
"As we approach the end of the year, we are pleased to have narrowed our full year 2015 gold production target to achieve between 72,000 and 74,000 ounces of gold. This represents an increase of approximately 19 to 23% compared to the full year 2014 production of 60,285 ounces of gold," Vaziri said.
Shares in Anglo Asian Mining were off 0.375p at 4.75p in early deals.