Anglo Asian Mining PLC British Ambassador to Azerbaijan visits Gedabek
October 01 2019 - 2:01AM
RNS Non-Regulatory
TIDMAAZ
Anglo Asian Mining PLC
01 October 2019
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector:
Mining
01 October 2019
Anglo Asian Mining plc
British Ambassador to Azerbaijan visits Gedabek
Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM
listed gold, copper and silver producer focused in Azerbaijan, is
pleased to announce that representatives of the British Embassy in
Azerbaijan recently visited the Company's Gedabek gold, copper and
silver mine. A presentation was made to the recently appointed
British Ambassador to Azerbaijan, Mr. James Sharp.
Anglo Asian Mining is the largest mining investor in Azerbaijan,
the second largest British investor in Azerbaijan (after British
Petroleum) and the only London Stock Exchange listed business which
operates exclusively in Azerbaijan. During the visit, ongoing and
future business relations between British companies and Azerbaijan
International Mining Company, the wholly owned subsidiary of Anglo
Asian Mining, which operates the mining and processing facilities
in Azerbaijan were discussed.
Following the presentation to the representatives of the British
Embassy in Azerbaijan which included presenting the many corporate
social responsibility projects in the local community and the
Company's contribution to the Azerbaijan economy, the delegation
was given a tour of the Gedabek contract area mines (Gedabek open
pit, Ugur open pit and Gadir underground mine) and processing
facilities.
Anglo Asian CEO Reza Vaziri commented: "It was a great pleasure
to host the British Ambassador and his colleagues at the Gedabek
mine site. We look forward to continuing our excellent relationship
with the British Embassy with a view to further contributing to the
ongoing mutual benefit of the association between Britain and
Azerbaijan."
*ENDS**
For further information please visit www.angloasianmining.com or
contact:
Reza Vaziri Anglo Asian Mining plc Tel: +994 12 596 3350
Bill Morgan Anglo Asian Mining plc Tel: +994 502 910 400
--------------------------- ----------------------
Stephen Westhead Anglo Asian Mining plc Tel: +994 502 916 894
--------------------------- ----------------------
Ewan Leggat SP Angel Corporate Finance Tel: +44 (0) 20 3470
LLP 0470
Nominated Adviser and
Broker
--------------------------- ----------------------
Soltan Tagiev SP Angel Corporate Finance Tel + 44 (0) 20 3470
LLP 0470
--------------------------- ----------------------
Camilla Horsfall Blytheweigh Financial Tel: +44 (0) 20 7138
3224
--------------------------- ----------------------
Megan Ray Blytheweigh Financial Tel: +44 (0) 20 7138
3224
--------------------------- ----------------------
Notes:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer in Central Asia with a broad portfolio of production and
exploration assets in Azerbaijan. The Company has a 1,962 square
kilometre portfolio, assembled from analysis of historic Soviet
geological data and held under a Production Sharing Agreement
modelled on the Azeri oil industry.
The Company's main operating location is the Gedabek contract
area ("Gedabek") which is a 300 square kilometre area in the Lesser
Caucasus mountains in western Azerbaijan. The Company developed
Azerbaijan's first operating gold/copper/silver mine at Gedabek
which commenced gold production in May 2009. Mining at Gedabek was
initially from its main open pit, which is an open cast mine with a
series of interconnected pits.
The Company also operates the high grade Gadir underground mine,
which is co-located at the Gedabek site. In September 2017,
production commenced at the Ugur open pit mine, a recently
discovered gold ore deposit at Gedabek. The Company has a second
underground mine, Gosha, which is 50 kilometres from Gedabek. Ore
mined at Gosha is processed at Anglo Asian's Gedabek plant.
The Company produced 83,736 gold equivalent ounces ('GEOs') for
the year ended 31 December 2018. Gedabek is a polymetallic ore
deposit that has gold together with significant concentrations of
copper in the main open pit mine, and an oxide gold-rich zone at
Ugur. The Company therefore employs a series of flexible processing
routes to optimise metal recoveries and efficiencies. The Company
produces gold dore through agitation and heap leaching operations,
copper concentrate from its Sulphidisation, Acidification,
Recycling, and Thickening (SART) plant and also a copper and
precious metal concentrate from its flotation plant. A second
dedicated crusher line has been commissioned and is now in
operation for the flotation plant to enable it to operate
independently of, and in parallel with, the agitation leaching
plant.
The Company has forecast metal production for FY 2019 of between
82,000 to 86,000 GEOs for the year ending 31 December 2019.
Anglo Asian is also actively seeking to exploit its first mover
advantage in Azerbaijan to identify additional projects, as well as
looking for other properties in order to fulfil its expansion
ambitions and become a mid-tier gold and copper metal production
company.
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END
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