Anglo Asian appoints Worley Europe for feasibility studies

22nd Jun 2026 09:40

(Sharecast News) - Anglo Asian Mining announced the appointment of Worley Europe on Monday, to prepare feasibility studies for the Xarxar and Garadag copper deposits in Azerbaijan, which are central to the company's growth strategy.

The AIM-traded gold, copper and silver producer said the studies would assess copper heap leach processing and solvent extraction-electrowinning, which would allow copper metal to be produced directly at the mine site rather than exporting concentrate for smelting and refining.

The Xarxar study is expected to be completed in mid-2027, with Garadag due in the first half of 2028.

Anglo Asian also outlined a 90,000-metre core drilling programme for 2026 and 2027, including about 55,000 metres of exploration drilling and 35,000 metres for the feasibility studies.

Vice president Stephen Westhead said the studies and associated drilling would support the company's transition into a mid-tier, multi-asset copper and gold producer.

At 0922 BST, shares in Anglo Asian Mining were down 0.64% at 387.5p.

Reporting by Josh White for Sharecast.com.

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