BAKU, Azerbaijan, July 8. Azerbaijani Garadagh, Xarxar and Demirli contract areas (deposits), have been approved to be developed by the UK Anglo Asian Mining company, Trend reports via the company's statement.
The combined area of the deposits is 882 square kilometers.
The company said that giving access to these deposits has expanded its portfolio of copper and gold mining and in the near future, it's planned to conduct a detailed review and explore the potential of the deposits.
As a result of the above work, the company will announce its new development strategy, as well as plans to achieve the status of a mid-tier copper and gold mining company.
The Garadagh and Xarxar deposits are four and 1.5 kilometers respectively from the northern border of the Gadabay district. Garadagh contains approximately 168,000 and 150,700 tons of copper in C1 and C2 classifications with an average copper grade of 0.64 percent, the company said adding that Xarxar deposit has a greater potential, and in the near future, it’s planned to assess its reserves.
The company also noted that the Demirli deposit is adjacent to the existing Kyzylbulag Contract Area in the Karabakh economic region, and the development of the deposit is planned to be started at an earlier date.
The company's portfolio includes territories with a total area of 2,844 square kilometers. Given the above three additional concessions with a total area of 882 square kilometers, the total contract area of Anglo Asian Mining is 3,726 square kilometers.