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Extension of contract for dev't of gold-bearing deposit approved in Azerbaijan

Business Materials 21 April 2021 21:34 (UTC +04:00)
Extension of contract for dev't of gold-bearing deposit approved in Azerbaijan

BAKU, Azerbaijan, April 21

By Fidan Babayeva - Trend:

The UK’s Anglo Asian Mining PLC has extended the contract for the development of the Gadabay gold deposit in Dashkesan district of Azerbaijan for five years, Trend reports referring to the company.

The contract for the development of the Gadabay gold deposit has been extended until March 2027.

"The company is currently also negotiating with the Azerbaijani government to expand the territory of its existing contract zones and new contract zones in the country," the message said.

"I am very pleased to announce that the company has achieved the extension of the Production Sharing Agreement on the Gadabay contract area as we continue our exploration program, which has already revealed a number of new mineral deposits, including Zafer and Avshanjli," CEO at Anglo-Asian Mining PLC Reza Vaziri said.

Anglo Asian Mining PLC is a gold, copper and silver producer in Central Asia with a wide portfolio of production and exploration assets in Azerbaijan. The company's portfolio includes a 1,962-square-kilometer-area.

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