Anglo Asian Mining PLC Environmental report and restart of operations (7218N)

TIDMAAZ

RNS Number : 7218N

Anglo Asian Mining PLC

26 September 2023

26 September 2023

Anglo Asian Mining plc

Final Micon environmental report and restart of operations

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused on Azerbaijan announces that the final Micon report (the "Report") has been delivered today, 26 September 2023 to the Company and the Government of Azerbaijan (the "Government").

Following the receipt of the Report, the Prime Minister of Azerbaijan issued a press release saying that based on the Report the Gedabek plant can gradually restart operations. The restart of operations will take place in accordance with a timetable to be agreed with the Government. The Company and the Government will also work together to implement Micon's recommendations for the Gedabek operation contained in the Report.

The Company will release further details as they become available, including a summary of the key findings of the Report.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which was incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

For further information please contact:

 
 Anglo Asian Mining plc 
                                             Tel: [phone] 
 Reza Vaziri, Chief Executive Officer         3350 
                                             Tel: [phone] 
 Bill Morgan, Chief Financial Officer         400 
                                             Tel: [phone] 
 Stephen Westhead, Vice President             894 
 
 SP Angel Corporate Finance LLP (Nominated   Tel: +44 (0) 20 
  Adviser and Broker)                         3470 0470 
  Ewan Leggat 
  Adam Cowl 
 
 Hudson Sandler (Financial PR)               Tel: [phone] 
  Charlie Jack                                4133 
  Harry Griffiths 
 

Notes to editors

Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The Company produced 57,618 gold equivalent ounces ("GEOs") for the year ended 31 December 2022.

On 30 March 2023, the Company published its strategic plan for growth which shows a clearly defined path for the Company to transition to a multi-asset, mid-tier copper and gold producer by 2028. By 2028, copper will be the principal product of the Company, with forecast production of around 36,000 copper equivalent tonnes. It plans to achieve this growth by bringing into production four new mines during 2023 to 2028 at Zafar, Gilar, Xarxar and Garadag.

The Company owns approximately 17.4 per cent. of Libero Copper & Gold Corporation ("Libero"). Libero is listed on the TSX Venture Exchange in Canada and owns, or has the option to acquire, several copper exploration properties in North and South America, including Mocoa in Colombia, one of the world's largest undeveloped copper-molybdenum resources.

https://www.angloasianmining.com/

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September 26, 2023 09:52 ET (13:52 GMT)