Anglo Asia Mining is keen on increasing its gold production. After the success the company experienced at the Gedabek mine in Azerbaijan, it is now hoping to repeat the process at the neighboring Gosha gold mine. The plan was revealed in a statement made by the company last Thursday.
The company reported an increase in the production of gold for the first half of 2011 as compared to the same time frame a year ago. Gold production for this year was 28,610 ounces which was 0.4% more than the gold production from 2010 which was 28,493 ounces.
Part of the increase in gold production would be contributed to the Gedabek gold and copper mine which is situated 359 km west of the capital city of Baku. Anglo Asia Mining began production at the Gedabek mine in July 2009. It has produced 67,267 ounces of gold at Gedabek in 2010 and planned to produce over 60,000 ounces in 2011.
The Gosha gold mine was found in 2011 February. The estimated reserves at the mine have not yet been made public. The development of the mine is likely to begin in the second half of 2012. There are seven more mines in west Azerbaijan which are also likely to be explored. They are said to have gold reserves worth 430 tonnes.