Anglo Asian Mining PLC (AGXKF)
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Anglo Asian production ramping up after tailings dam approval
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it is ramping up to full production after receiving authorisation to raise the tailings dam wall at the Gedabek mine. Construction of the new wall started on 6 August 2024, with the mine now moving towards normalised production again, according to the gold and copper miner.
Anglo Asian publishes maiden resource for Garadag copper prospect
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) has published an independent maiden JORC mineral resource estimate (MRE) for its Garadag copper deposit in Azerbaijan. Carried out by Mining Plus UK, the total resource (Indicated and Inferred categories) is approximately 900,000 tonnes of copper metal hosted in 285 million tonnes of mineralisation with average grades of 0.32%.
Anglo Asian to restart Gedabek operations from next month
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said production this year will be between 15,000 and 19,500 gold equivalent ounces (GEOs) comprising 250 to 850 tonnes of copper and 14,000 to 16,000 ounces of gold. The Ajerbaijan-based miner only received permission to raise its tailing dam wall and restart production at its Gedabek mine this month, after almost a year of disruption.
Anglo Asian to restart production as tailings approval granted
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) has received authorisation from the Government of Azerbaijan to raise the wall of its tailings dam and restart full operations at its Gedabak gold mine. Confirmation was also received that the construction work will comply with all health and safety requirements.
Anglo Asian waiting for final tailings dam clearance
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it has still to return to full production at the Gedabek mine in Azerbaijan though the final administrative formalities related to raising its tailing dam wall are expected to be completed imminently. Operations remain partially shut down due to the tailings wall issue with gold production from heap leaching and copper production from SART.
Anglo Asian Mining hails change of production sharing partner
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) told investors that state-run AzerGold is its new production-sharing partner in Azerbaijan, which the company expects to be of "considerable benefit" for the running of operations in the country. The newly amended production-sharing agreement (PSA) sees the Ministry of Ecology and Natural Resources (MENR) replaced as the local party, Anglo explained that the original PSA was signed before AzerGold was established, when there was no state body in Azerbaijan's mining sector, but that it is now the most suitable state organisation as it has more operational mining experience than the MENR.
Anglo Asian Mining expects full production to resume shortly
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said the problems stemming from its tailings dam expansion plans at the Gedabek mine in Azerbaijan were ‘largely behind it' in a statement ahead of its AGM. The miner had to suspend production and bring in an independent consultant to audit its tailings operations following social unrest over the plans but now expects full agitation and flotation processing at the mine to resume shortly.
Anglo Asian Mining shares up 16% as tailings wall upgrade receives key approvals
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF)'s share price rose 16% after its subsidiary, AIMC, received technical and environmental approval from the Government of Azerbaijan for a seven-meter raise of its tailings dam wall. The project will be executed in two stages, with the first 2.5-meter raise expected to be completed three months after obtaining permission.
Anglo Asian receives key sign-offs to raise tailings dam wall
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF)'s subsidiary, AIMC, has received technical and environmental approval from the Government of Azerbaijan for a final raise of its tailings dam wall. The project will increase the height of the wall by 7 meters in two stages, with the first 2.5-meter upgrade expected to be completed three months after obtaining permission.
Anglo a Asian agrees copper prepayment deal with Trafigura
Anglo Asian Mining has signed a prepayment agreement totalling US$5 million for sales of copper concentrate with trading giant Trafigura. Advance payments totalling US$5 million will be made to Anglo Asian with settlement through the delivery of copper concentrate to Trafigura.
