Anglo Asian Mining Plc (LSE:AAZ) delivered record production during the first half of 2026 as output from its Demirli copper mine continued to increase, while the company’s net cash position strengthened significantly.
Copper output surges as Demirli ramps up
Copper production reached 5,129 tonnes during the second quarter, an increase of 38 percent from the 3,711 tonnes produced in the first quarter.
The Demirli mine contributed 3,250 tonnes during the quarter, while the Gedabek operation produced a further 1,879 tonnes. Total first-half copper production rose to 8,840 tonnes, compared with 1,188 tonnes in the same period last year, reflecting the rapid expansion of Demirli.
Strong cash generation improves balance sheet
The company increased its net cash position by 39.9 million dollars during the second quarter.
Cash balances stood at 69.8 million dollars at the end of June, while outstanding debt declined to 12.2 million dollars, resulting in a net cash position of 57.6 million dollars.
During the first half, Anglo Asian sold 58,577 dry metric tonnes of concentrate with a total value of 125.9 million dollars. Of that total, Demirli accounted for 71.4 million dollars of sales.
Full-year guidance unchanged
Gold production totalled 12,329 ounces during the first six months of the year, while silver production reached 92,855 ounces.
The company maintained its full-year production guidance, forecasting copper output of between 20,000 and 25,000 tonnes, gold production of between 28,000 and 33,000 ounces, and silver production of between 170,000 and 210,000 ounces.
Management expects the Demirli mine to reach steady-state production during the third quarter, providing further support for production growth over the remainder of the year.
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