Baku, Azerbaijan, July 17
By Azad Hasanli – Trend:
Anglo Asian Mining PLC (AAM), a producer of gold, copper and silver in Azerbaijan, repaid nearly all its credit debt in the first half of 2018, the company said in a report.
The company fully repaid the loan to Amsterdam Trade Bank, Gazprombank, YapıKredi, the International Bank of Azerbaijan, Reza Vaziri, president and CEO of AAM and Atlas Copco.
AAM credit debt as of January-June 2018:
|
Credit institution |
Debt volume (million USD) |
|
Kapital Bank |
1 |
|
PASHA Bank (refinancing) |
11.8 |
|
PASHA Bank |
2.6 |
|
TOTAL |
15.4 |
|
Cash and funds in banks |
12.5 |
|
Net debt |
2.9 |
Anglo Asian Mining PLC is a gold, copper and silver producer with a broad portfolio of production and exploration assets in Azerbaijan.
AAM and Swiss Industrial Minerals SA signed an agreement in May 2014 on selling cooper concentrate produced at Gadabay field in Azerbaijan. Based on the production sharing agreement signed with Azerbaijani government in August 1997, Anglo Asian Mining PLC has the right to develop six fields in south-west of Azerbaijan: Gadabay, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu.
The gold produced at the fields is sent to Switzerland for purification. The ingots are delivered to Azerbaijan and are stored in the government’s account.
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