BAKU, Azerbaijan, May 20
By Fidan Babayeva - Trend:
The UK Anglo Asian Mining (AAM) company will start extracting precious metals at the new Avshancli deposit in the late 2021 or early 2022, Trend reports referring to a source in the company.
"We plan to start production from our new discoveries - from the small open pit at Avshancli-1. The process may begin at the end of this year or early next one. In the longer term, it will be possible to produce onshore production at the Avshancli deposit, namely in its central part - Avshancli-1," the source said.
"Currently, we are also negotiating with the Azerbaijani government on the acquisition of new concessions in the country and we hope that we will be able to inform our shareholders about this in the near future," the AAM representatives said.
The source noted that Avshancli is an important mineral area located 10.5 kilometers northeast of the Gadabay open pit. This gold-copper deposit consists of three distinct areas: Avshancli-1, Avshancli-2 and Avshancli-3.
Anglo Asian Mining PLC is a gold, copper and silver producer in Central Asia with a wide portfolio of production and exploration assets in Azerbaijan. The company's portfolio includes an area of 1,962 square kilometers.
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