Anglo Asian Mining PLC has announced that its subsidiary, Azerbaijan International Mining Company Limited, has received technical confirmation and a positive environmental report from the Government of Azerbaijan for the raise of its tailings dam wall. The permission to begin construction is subject to administrative formalities, expected to be completed shortly. The raise will be carried out in two stages, with the first raise of 2.5 meters completed approximately three months after permission is obtained.
The Ministry of Emergency Situations has confirmed the stability of the existing tailings dam wall and approved the construction design of the wall raise. The Ministry of Ecology and Natural Resources has provided a positive environmental report, completing the technical work required to raise the wall. The Expert Opinion and Environmental Report will be submitted for formal approval of construction, expected to be completed shortly.
Reza Vaziri, Chief Executive Officer of Anglo Asian Mining, expressed delight at the approval, stating, "This achievement marks another significant milestone for Anglo Asian in its return to normalised trading." The company will provide an update on production guidance in due course and continues to prioritize the progression of its development portfolio, with the new Gilar mine expected to enter production in Q4 2024.
Anglo Asian Mining PLC is a gold, copper, and silver producer with a portfolio of production and exploration assets in Azerbaijan. The company's strategic plan aims to transition to a multi-asset, mid-tier, copper, and gold producer by 2028, with forecast production of around 36,000 copper equivalent tonnes. This growth plan includes bringing into production four new mines during the period 2024 to 2028 at Zafar, Gilar, Xarxar, and Garadag.