Anglo Asian Mining Plc (LON:AAZ) has announced a 19% rise in gold production thanks to the opening of mining at the Ugur open pit in September.
Gold production amounted to 14,468 ounces for the third quarter to September 30, while copper production totalled 550 tonnes and silver totalled 40,288 ounces.
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The company sold 9,287 ounces of gold bullion at an average price of US$1,286 per ounce, copper concentrate sales totalled 2,905 dry metric tonnes with the sales value reported at US$5.5mln.
For the nine months to September 30, the company reported a total of 48,276 gold equivalent.
“This has been an excellent quarter for Anglo Asian as the benefits of the strategic review earlier in the year are now being realised,” said Reza Vaziri, Anglo Asian chief executive.
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“The commencement of mining from Ugur in September is already having a very positive influence with gold production rising by over 2,300 ounces from the previous quarter.
“Anglo Asian expects a strong fourth quarter and finish to 2017 and I look forward to updating our shareholders on our progress."