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Anglo Asian Mining buoyed by rising metal prices

Last updated: 03:42 13 Mar 2024 EDT, First published: 06:17 18 Feb 2021 EST

Snapshot

  • Anglo Asian Mining sets up sustainability committee after tailings review
  • Anglo Asian’s safety commitments reflect well on group - analyst
  • Anglo Asian Mining expecting to ride the "copper electrification wave"
Gold

About the company

Anglo Asian Mining PLC is a gold, copper and silver producer with a high-quality portfolio of production and exploration assets in Azerbaijan.

The company's strategic plan for growth is to transition to a multi-asset, mid-tier, copper and gold producer by 2028. It plans to achieve this growth by bringing into production four new mines during the period 2024 to 2028 at Zafar, Gilar, Xarxar and Garadag. 

How it is doing

13 Mar 2024

Azerbaijan-based Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it has as established a Sustainability Committee, to be chaired by John Monhemius.

The committee is part of a commitment to responsible mining practices said the gold and copper miner and will oversee the development of strategy and activities related to sustainable development and social responsibility.

In a statement, Anglo Asian said establishing the committee reflects its dedication to operational safety, sustainable practices, environmental stewardship and community engagement.

As well as  Monhemius, the sustainability committee will comprise  William Morgan, Stephen Westhead, Farhang Hedjazi, Tarkan Yazici and Aynur Atayeva.

20 Feb 2024

Anglo Asian Mining said its Xarxar copper deposit in Azerbaijan contains 24.9 million tonnes of mineralisation with average grades of 0.48% copper as it published a maiden JORC-compliant resource for the deposit.

Of this, 22 million tonnes of mineralisation containing 106,000 tonnes of copper are in the Measured plus Indicated JORC categories.

25 Jan 2024

Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said drilling at the Xarxar prospect in Azerbaijan has confirmed a significant quantity of copper mineralisation that will be included in a forthcoming resource estimate for the deposit.

Surface drill holes intercepted significant high-grade and continuous grades of copper mineralisation, with intercepts of continuous copper for up to 380 metres, said the statement.

What the brokers say

19 Jan 2024

Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF)’s commitment to the Global Industry Standard on Tailings Management is a positive step in light of past disasters unconnected to Anglo Asian, such as Vale’s Corrego de Feijao mine collapse in Brazil, said analysts at stockbroker SP Angel.

Led by the Church of England Pensions Board and the Swedish Council on Ethics, the GIS on Tailing Management was a response to the mine collapse, which resulted in the deaths of 270 people.

SP Angel noted that Anglo Asian’s existing tailings dam, part of the Gedabek gold and copper mine, has passed thorough checks and audits by three leading international consultancies.

What management says

23 Feb 2023

 

Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) CFO Bill Morgan speaks to Proactive's Thomas Warner following the release of a flurry of updates this week.

Morgan gives an update about how the gold, copper and silver producer has been performing at its various projects, saying that the business is confident it can "ride the copper electrification wave that's coming along."
 

Mining Capital turnout 'a good cross-section of industry sentiment'

Alastair Ford looks back on this week's Proactive Investors Mining Capital conference in London. ''The room was full throughout the morning, standing room only at some points throughout the day and a huge amount of interest in the networking room during the breaks''. ''It was...

on 4/5/18