Anglo-Asian Mining announces possibility of starting production at Avshancli-1 field

The British company Anglo-Asian Mining Plc, which produces gold, silver, and copper in Azerbaijan, with the possibility of starting production at the Avshancli-1 field, said the report of the British company on the results of 2020.

Report informs that the production is possibly expected to begin at a small open pit in the central part of the Avshancli-1 field later this year or early next year.

The company is currently in discussions with the Azerbaijani government to obtain new concessions in the country.

Anglo-Asian Mining hopes that its shareholders will be informed in more detail in the near future.

Anglo-Asian Mining is engaged in Azerbaijan production under the PSA (Production Sharing Agreement) signed on August 21, 1997.

Azerbaijan's share in the agreement is 51%, while "Anglo-Asian Mining Plc" holds 49%. The first gold production (in the Gadabay field) began in 2009. Gedabek is an open-pit mine with integrated mines. The company is also engaged in production at the Gosha underground mine, 50 km from the Gadir and Gadabay fields, and the newly discovered Ugur field.