BAKU, Azerbaijan, Sept. 30
By Sadraddin Aghjayev - Trend:
The UK Anglo Asian Mining (AAM) has signed ‘Heads of Terms’ (the "Agreement") with the Government of Azerbaijan, which awards the Company three new concessions with a combined area of 882 square kilometers, Trend reports citing the company.
There are two copper deposits ‘Kharkhar’ and ‘Garadagh’, as well as copper-molybdenum deposit ‘Demirli’.
The Kharkhar field borders on two contract areas, Gadabay and Gosha.
"The Garadagh contract site contains more than 300,000 tons of copper worth more than $3 billion at current prices. The Demirli contract area located in the Karabakh economic region, according to preliminary data, contains about 275,000 tons of copper and 3,200 tons of molybdenum," the statement says.
According to the company, complex work on the assessment of mineral reserves will begin after the ratification of the new concession agreement by the Azerbaijani parliament. Anglo Asian Mining expects open-pit mining.
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