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Anglo Asian Mining (AAM), a leading British mining entity operating in Azerbaijan, has disclosed a substantial copper finding at the Kharhar site, marking a significant milestone in the nation’s mining landscape.

In adherence to Joint Ore Reserve Committee (JORC) standards, the revelation delineates a copper mineralization zone estimated at 24.9 million tons with an average copper content of 0.48%. Notably, from 22 million tons of ore, approximately 106,000 tons of copper have been identified, contributing to a total mineral reserve estimate of 119,000 tons.

Scheduled for copper production initiation in 2026, AAM aims to extract approximately 9,000 tons annually over a span of seven years, leveraging open-pit mining methodologies due to the site’s favorable terrain.

The original contract inked between Anglo Asian Mining and Azerbaijan in 1997 entailed the development of six sites, with Azerbaijan holding a 51% stake and Anglo Asian Mining possessing 49%. A revised agreement in September 2021 expanded this contract to cover eight areas, granting AAM rights to three additional blocks while ceding rights to one site.

Industry analysts foresee substantial revenue streams stemming from the Kharhar site and other contract zones, underscoring the pivotal role of the mining sector in diversifying Azerbaijan’s economy away from oil dependence. Azerbaijan, in alignment with global standards, is actively exploring innovative techniques, seeking investments, and concentrating efforts on recently liberated territories known for their significant mineral reservoirs.

Azerbaijan’s mineral resource base, as outlined in the State Programme for Geological Exploration and Efficient Utilization of Mineral Resources Base for 2020-2024, is undergoing comprehensive exploration and development, particularly in liberated territories rich in gold, mercury, copper, and other minerals.