Anglo Asian now has eight Contract Areas covering 2,544 square kilometres in western Azerbaijan. This follows approval by the Government of Azerbaijan to amendments to its production sharing agreement on 5 July 2022. The Contract Areas are as follows:

  • Gedabek. This is the location of the Group’s main gold, silver and copper open pit mine and the Gadir and Gedabek underground mines. The Group’s processing facilities to produce gold doré and copper, silver and gold concentrates are also located at Gedabek.
  • Gosha. This is located approximately 50 kilometres from Gedabek and is the location of a small, narrow vein gold and silver mine.
  • Ordubad. An early-stage gold and copper exploration project located in the Nakhchivan exclave.
  • Vejnaly. Situated in the Zangilan district of Azerbaijan and hosts the Vejnaly deposit. Stock-piled ore from Vejnaly has been processed at Gedabek and a technical study is underway to determine whether further mining is economic.
  • Kyzlbulag. Situated in the Karabakh Economic Region and is the location of the Demirli deposit. This hosts a copper/molybdenum mine and an intact plant. Anglo Asian currently does not have access to this Contract Area
  • New Concessions: Garadagh, Xarxar and Demirli. These three Contract Areas were acquired on 5 July 2022 following approval by the Government of Azerbaijan to amendments to Anglo Asian’s production sharing agreement.
Gedabek

Gedabek

  • 300 square kilometre licence area
  • Mining and exploration rights until March 2027 which can be extended by 5 years
  • Latest JORC mineral resource for the Gedabek open pit mine released on 2 November 2020 of 551,000 ounces of gold, 33,400 tonnes of copper and 2,202,000 ounces of silver.
  • Latest JORC mineral resource for the Gadir underground mine released on 2 November 2020 of 211,000 ounces of gold, 2,024 tonnes of copper and 326,000 ounces of silver.
  • Maiden JORC mineral resource for Zafar deposit released on 16 August 2021 of 51,000 tonnes of copper, 82,000 ounces of gold and 40,000 tonnes of zinc.
  • All processing of ore carried out at Gedabek
Gosha

Gosha

  • 300 square kilometre licence area
  • Being operated as a small, high grade mine
  • Ore mined at Gosha is transported to Gedabek for processing
  • Non-JORC resource of about 40,000 ounces of gold
Ordubad

Ordubad

  • 462 square kilometre licence area
  • Notice of discovery disclosed for one target comprising several targets
  • Exploration underway
Vejnaly Contract Area

Vejnaly Contract Area

  • Covers approximately 300 square kilometres
  • Located in the mineral- rich Zangilan district
Kyzlbulag Contract Area

Kyzlbulag Contract Area

  • Located in Karabakh Economic Region
  • Contains the Demirli deposit
  • Estimates have been recently published that the deposit contains 275,000 metric tonnes of copper and 3,200 metric tonnes of molybdenum
New Concessions

New Concessions

  • Three new concessions in Azerbaijan
  • Combined area of 882 square kilometers
  • Acquired in July 2022