Azerbaijan's Anglo Asian Mining increases its stake in Canadian mining company

Economy Materials 27 January 2022 17:57 (UTC +04:00)

BAKU, Azerbaijan, Jan. 27

By Sadraddin Aghjayev – Trend:

Anglo Asian Mining (AAM) PLC in Azerbaijan has completed the acquisition of a further 10 percent of Libero Copper & Gold Corporation, taking its stake to 19.8 percent, Trend reports referring to the AAM.

The gold miner originally announced the C$6.3 million (£3.7 million) investment in December but has now received approval from the Canadian authorities and acquired another 10 percent of the company's shares.

“Anglo Asian reiterated the acquisition is in line with a strategy to increase its interests in copper and gold properties both in Azerbaijan and Internationally. Libero will use the money to explore its Mocoa property in Colombia,” the message said.

Anglo Asian’s chief executive Reza Vaziri noted that Anglo Asian and Libero Copper & Gold are keen to work together on Libero's future development programs and to share expertise.

"A technical committee comprising representatives from both Anglo Asian and Libero is currently being formed to determine Libero's exploration approach,” Vaziri stated.


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