Azerbaijan’s gold producer reduces its credit debt

Baku, Azerbaijan, Oct. 14

By Anvar Mammadov – Trend:

Anglo Asian Mining PLC (AAM), a producer of gold, copper and silver in Azerbaijan, reduced its credit debt by 13.1 percent ($3.8 million) to $25.2 million in 3Q17, says the company’s report.

Thus, the company reduced its debt to the Amsterdam Trade Bank (by $1.3 million), Gazprombank (by $1.3 million), Atlas Copco (by $0.1 million), PASHA Bank OJSC (by $0.8 million), YapiKredi (by $0.2 million).

Meanwhile, during the period, the company attracted an additional loan from Kapital Bank OJSC in the amount of $0.7 million. Thus, the AAM’s total debt to the Azerbaijani bank reached $1.2 million, and to AAM CEO Reza Vaziri – $3.9 million.