(MENAFN- Trend News Agency) BAKU, Azerbaijan, Jan. 21
Trend:
Anglo Asian Mining PLC, the AIM listed gold, copper and silver producer in Azerbaijan has restored three contract areas in Azerbaijan's Nagorno-Karabakh region, Trend reports citing the company.
The areas include Soutely in the Kalbajar district, Kyzlbulag (Nagorno Karabakh), Vejnaly in the Zangilan district.
The company will fully evaluate the potential of the three restored contract areas when permission to access is received from the Government of Azerbaijan.
"Mineral exploitation has been carried out illegally during the Armenian occupation at all three contract areas," the report said.
Soutely - location of the Zod gold and silver mine, the largest in the Caucasus region, and which was reported to be producing approximately 120,000 ounces of gold per year prior to the conflict.
Kyzlbulag - location of the Kashan deposit hosting a copper and molybdenum mine.
Vejnaly - mining has been carried out at the deposit but the current situation is unknown.
The company added that considerable exploration potential exists both near the existing mines and on known geological trends in the restored contract areas.
"It has been proposed as part of the ceasefire agreement that Armenia will grant territory in its Syunik region to Azerbaijan to allow construction of direct road and rail links between the exclave of Nakhchivan and the rest of Azerbaijan. The proposed transport corridor will greatly improve access to the Company's Ordubad contract area," the company added.
Reza Vaziri, President and CEO of Anglo Asian Mining, said that It is a tragedy that this long-standing territorial dispute has resulted in a humanitarian crisis and significant loss of life.
"Anglo Asian Mining very warmly welcomes the recent ceasefire agreement which ended the hostilities. The conflict has resulted in extensive damage across the region which will require substantial investment to repair and rebuild," he said.
"Anglo Asian Mining will work with the Government of Azerbaijan, pursuant to its contractual rights, in the three restored contract areas within the Zangilan and Kalbajar districts as well as in Nagorno Karabakh. The Company will properly manage and invest in the mineral resources of the region to the benefit of the local communities and other stakeholders. Anglo Asian Mining has been a model of sustainable and sound mining practices at its current operations while working with, and investing in, the local communities," Vaziri said.
"The company intends to bring that commitment to high-quality development to its restored contract areas in the regions internationally recognized as part of Azerbaijan."
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