(Sharecast News) - Anglo Asian Mining said on Tuesday that it returned to profit in 2025 and reinstated its dividend after bringing two new mines into production as part of its shift towards becoming a copper-focused mid-tier producer.
The AIM-traded Azerbaijan-focused gold, copper and silver producer said revenue rose to $122.8m for the year ended 31 December, from $39.6m in 2024, helped by a full year of production at Gedabek and the start of production from the Gilar and Demirli mines.

Pre-tax profit was $25.8m, compared with a loss of $21.3m a year earlier, supported by higher production and favourable commodity prices.

Net cash from operations increased to $46.7m from $8.6m.

The group ended the year with net cash of $2.6m, compared with net debt of $14.7m at the end of 2024.

Anglo Asian declared a final dividend of 4 US cents per share, payable on 27 August, which it said reflected the board's commitment to delivering shareholder returns.

Total production for the year was 25,061 ounces of gold, up from 15,073 ounces in 2024, and 7,915 tonnes of copper, compared with 377 tonnes the previous year.

Gold bullion sales rose to 19,631 ounces from 15,251 ounces, at an average price of $3,441 per ounce, compared with $2,432 per ounce in 2024.

Copper concentrate shipments totalled 29,695 dry metric tonnes, with a sales value of $54.5m excluding the Government of Azerbaijan's production share, compared with 1,519 dry metric tonnes and $2.5m a year earlier.

The Gilar underground copper and gold mine at Gedabek entered production in May and is producing high-grade ore using existing infrastructure.

Demirli, a large brownfield copper project in Karabakh, entered production in July and is performing in line with expectations.

The company also said it had made significant progress in developing the Xarxar and Garadag copper projects, with consultants set to be appointed for feasibility studies.

The final raise of the Gedabek tailings dam wall is nearing completion, which is expected to provide another two to three years of storage capacity.

Anglo Asian maintained its 2026 guidance, with annual production expected at 20,000 to 25,000 tonnes of copper at an all-in sustaining cost of $6,800 to $7,800 per tonne, and 28,000 to 33,000 ounces of gold at an AISC of $1,500 to $1,800 per ounce.

The company recently reported first-quarter 2026 production of 3,711 tonnes of copper and 6,062 ounces of gold, in line with expectations.

Chief executive Reza Vaziri said 2025 had been a historic year for Anglo Asian as it became a multi-asset producer.

"As a result of our strong operational and financial performance, we are delighted to reinstate the dividend, representing our commitment to deliver attractive value for our shareholders," he said.

Vaziri said 2026 was expected to be the year in which Anglo Asian became primarily a copper-producing company, while continuing to develop Xarxar and Garadag for future production.

At 0905 BST, shares in Anglo Asian Mining were up 0.56% at 313.75p.

Reporting by Josh White for Sharecast.com.

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