ANGLO ASIAN MINING PLC (LON:AAZ)Mining
Anglo Asian mining plc is a UK-based holding company, which is a leading copper & gold producer in Azerbaijan with a wide range of production and exploration assets. It was founded in the year 2004, and its headquarters are situated in Baku, Azerbaijan. The company is listed and traded on the Alternative Investment Market of the London Stock Exchange, and it complies with the UK City Code on Takeovers and Mergers. Its subsidiaries include Azerbaijan International Mining Company Limited, Azerbaijan International Mining Company LLP, and Anglo Asian Operations Limited.
The portfolio of the company comprises of gold, copper, and silver production as well as exploration assets in Azerbaijan. There are three key active contract areas of operation of the company in Azerbaijan, which cover approximately 1,062 square kilometers. Nagorno Karabakh and three more contract areas situated in the formerly Occupied Territories have also been reinstated by the company, and after getting access to them they will be further evaluated. Gold production was initiated by the company in May 2009, in its open pit mine at Gedabek in Western Azerbaijan. In 2015, production started in the underground mine, Gadir, which is around 700 meters away from the Gedabek open pit. Later in 2017, production commenced in the gold ore deposit, Ugur, which was newly discovered by the company, and situated just three kilometres away from the processing facilities of the company at Gedabek. Moving 50 kilometres north-west of Gedabek, the company owns another underground mine in the 300 square kilometre Gosha contract area.
At present, Gosha is being run as a high grade, small underground mine. Processing of the ore mined from Gedabek, and Gosha is carried out, which results in the production of either gold doré, copper or other precious metals concentrate. This is done with the help of a range of industrial processes, which include Heap leaching of crushed and Run of Mine (ROM) ore, Sulphidisation, Acidification, Recycling and Thickening (SART), Agitation leaching, and Flotation.
Anglo Asian mining plc follows a well-defined framework of corporate governance and aligns itself with the Quoted Companies Alliance (QCA) Corporate Governance Code. The board of the company has set up separate committees for audit, remuneration, nomination, and Health, Safety, Environment and Technology. It has an ethical code of conduct for running its business operations and promotes a culture of trust, transparency, and accountability. Apart from fulfilling all its corporate responsibilities, the company also fulfils its environmental and social responsibilities. It has a comprehensive Corporate Social Responsibility (CSR) framework in place and complies with international best practices and guidelines to create a sustainable business. It aims to minimize the impact of its business activities on the environment and create long-term value for the business as well as the wider community. It gives high priority to ensure that its exploration and production activities are carried out in a safe and environmentally friendly manner.
Anglo Asian Mining PLC 20, 520 Yard, Huseyn Javid Avenue BAKU AZ1065 Azerbaijan AZE