Anglo Asian Mining reports improved operational, financial performance
By Josh White
Date: Thursday 15 Jan 2026
(Sharecast News) - Anglo Asian Mining reported a sharp improvement in operational and financial performance in 2025 on Thursday, as record copper output underpinned a return to net cash and completed the group's transition to a multi-asset producer.
For the year ended 31 December, copper production rose to 7,915 tonnes, compared with 377 tonnes in 2024, supported by contributions from both the Gedabek and Demirli operations.
Gold production totalled 25,061 ounces, down from 15,073 ounces a year earlier but in line with the lower end of revised guidance, while silver output increased to 153,332 ounces.
Total sales proceeds for the year rose to $125.7m from $40.2m in 2024, helping the company generate a net cash inflow of $21.7m and end the year with net cash of $2.5m, compared with net debt of $14.8m a year earlier.
Fourth-quarter performance was particularly strong, with record quarterly copper production of 4,439 tonnes, up 94% quarter-on-quarter, driven by higher output at both Gedabek and Demirli.
Sales proceeds in the quarter reached $57.3m, generating a net cash inflow of $16.7m.
Anglo Asian also completed its first sales of Demirli copper concentrate through a newly-established logistics centre and continued upgrades at Gedabek, including the installation of a second filter press and the start of flotation plant enhancements to support processing of higher-grade Gilar ore.
For the full year, copper production came in below revised guidance of 8,100 to 9,000 tonnes after maintenance at the Demirli ball mill restricted ore throughput, with Demirli output of 3,128 tonnes compared with guidance of 3,500 to 4,100 tonnes.
The AIM-traded company said the ball mill was scheduled to be operational by the end of the first quarter of 2026 following the installation of a new spindle.
Inventory at year-end included copper concentrate containing 2,457 tonnes of copper, valued at $12,504 per tonne.
Chief executive Reza Vaziri said 2025 marked "a truly transformational year" for the group.
"In addition to bringing the Gilar and Demirli mines into production, we continued to invest in improving our operations such as the ongoing upgrade to the Gedabek flotation plant," he said.
While acknowledging that copper guidance was narrowly missed, Vaziri added: "This was offset by excellent sales and favourable metal prices.
"I was especially pleased with our cash performance and that we closed the year with net cash. This turnaround in net debt in 2025 has been a remarkable achievement."
Looking ahead, Vaziri said the company had entered 2026 in a strong position, with Demirli and Gilar operating in line with expectations and progress continuing at the Xarxar and Garadag copper growth projects, supported by favourable metal prices.
At 1244 GMT, shares in Anglo Asian Mining were up 7.9% at 299.95p.
Reporting by Josh White for Sharecast.com.
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