RCS - Anglo Asian Mining - Meeting with residents of Soyudlu village

Anglo Asian MiningAnnouncement

04/10/2023 08:30

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RNS Number : 6533O  Anglo Asian Mining PLC  04 October 2023

 

4 October 2023

 

Anglo Asian Mining plc

Meeting with residents of Soyudlu village

 

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold,
copper and silver producer focused on Azerbaijan announces that the management
of Azerbaijan International Mining Company ("AIMC"), the Company's operating
subsidiary in Azerbaijan, met with the residents of Soyudlu village for a
public debate on 28 September 2023.

 

The meeting was attended by members of the commission created under the
auspices of the Prime Minister of Azerbaijan (the "Commission"), AIMC
management and local residents to discuss the environmental investigation at
Soyudlu village. An overview of the meeting is as follows:

 

·  Mr Mukhtar Babayev, Minister of Ecology and Natural Resources and
Chairman of the Commission, delivered a presentation on the results of the
environmental study conducted by Micon International Co Limited ("Micon"),
which concluded there is no contamination of groundwater, surface water, or
soils from the tailings dam, with all results being below the international
standards and guidelines.

·   The study's recommendations focused on modernising equipment and
strengthening relations with the local community. AIMC is committed to fully
implementing the recommendations. The Commission and management of AIMC have
also listened to the concerns of the Soyudlu residents, noting their requests
and suggestions.

·     Deputy Minister of Health of Azerbaijan, Mr Nadir Zeynalov, stated
the health of the residents of Soyudlu village is satisfactory.

·    The management team of AIMC held positive conversations with the
local residents regarding any concerns, community assistance and
collaboration.

 

At the meeting, Reza Vaziri, Chief Executive Officer of Anglo Asian Mining,
informed the Soyudlu residents of the Company's commitment to allocate an
annual budget for social responsibility projects. This would be in addition to
the Company's existing regional and community investments. It was agreed
further discussions would take place regarding the social responsibility
projects with a working group consisting of representatives from the Gedabek
and Soyudlu communities.

 

For further information, please contact:

 

 Anglo Asian Mining plc
 Reza Vaziri, Chief Executive Officer                           Tel: +994 12 596 3350
 Bill Morgan, Chief Financial Officer                           Tel: +994 502 910 400
 Stephen Westhead, Vice President                               Tel: +994 502 916 894

 SP Angel Corporate Finance LLP (Nominated Adviser and Broker)  Tel: +44 (0) 20 3470 0470

 Ewan Leggat

 Adam Cowl

 Hudson Sandler (Financial PR)                                  Tel: +44 0) 20 7796 4133

 Charlie Jack

 Harry Griffiths

Notes

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/ (https://www.angloasianmining.com/)

 

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