Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer in Azerbaijan with a broad portfolio of production and exploration assets. The company is the first to bring modern mining practices to the country and is now a major player in the mining industry in Azerbaijan. Anglo Asian has grown its copper footprint in Azerbaijan through the acquisition of a new license in the Ordubad region.
The Ordubad license covers an area of 13.5 square kilometres and includes two known copper deposits, the Ordubad and Alikhan-Khan deposits. The Ordubad deposit is estimated to contain over 1 million tonnes of copper and the Alikhan-Khan deposit is estimated to contain over 3 million tonnes of copper. The Ordubad license is the latest addition to Anglo Asian’s portfolio of mining assets in Azerbaijan. The company already owns and operates the Gedabek gold, copper and silver mine and the Gosha gold mine in Azerbaijan. Anglo Asian is also developing the Udabnoe gold and copper project in the country.
The Ordubad license provides Anglo Asian with the potential to increase its copper production in Azerbaijan. The license is located near the Gedabek mine, which will enable Anglo Asian to take advantage of existing infrastructure and logistics. Furthermore, the license is located in an area with a long history of copper production, which could provide the company with a competitive advantage.
The acquisition of the Ordubad license is a significant milestone for Anglo Asian’s copper business in Azerbaijan. The company is now well positioned to grow its copper production in the country, which will help to diversify its revenue streams and reduce its exposure to gold price volatility. The Ordubad license is a key part of Anglo Asian’s strategy to become a mid-tier copper producer in Azerbaijan.
The company is now well positioned to increase its copper production in the country, which will help to diversify its revenue streams and reduce its exposure to gold price volatility. The acquisition of the Ordubad license is also an important step in the company’s strategy to become a major copper producer in the wider Central and Eastern European region. The license is located in an area with a long history of copper production and provides Anglo Asian with the potential to increase its copper production in the region. The Ordubad license is a major step forward for Anglo Asian’s copper business in Azerbaijan.
The license provides the company with the potential to increase its copper production in the country, which will help to diversify its revenue streams and reduce its exposure to gold price volatility. The license is located in an area with a long history of copper production and provides Anglo Asian with the potential to become a major copper producer in the Central and Eastern European region.
