BAKU, Azerbaijan, May 19. Anglo Asian Mining expects that copper will become the company's main product by 2026, which is vital for the transition to a future based on clean energy, Trend reports via the Anglo Asian Mining's annual report for 2022.
"The Parliament of the Republic of Azerbaijan ratified amendments to the Company's Production Sharing Agreement (PSA) in July 2022, granting the Company the three new contract areas of Kharkhar, Demirli and Garadag," the report said.
In August 2022, the Company acquired historical exploration data, drill core, geological studies and other reports in respect of Kharkhar and Garadag from AzerGold CJSC. This allowed the company to begin a comprehensive analysis of the new contract areas.
“Moreover, the company has conducted geological field research since July 2022. As a result of this work, the company announced a new growth strategy in March 2023," the report said.
In conclusion, the new contract areas and the growth strategy will allow the Anglo Asian Mining company to expand its business.