Anglo-Asian Mining Plc, a British company specializing in gold, silver, and copper extraction, is actively collaborating with the Azerbaijani government to secure contract projects in the Karabakh economic region. This effort follows Azerbaijan’s full sovereignty restoration over Karabakh in 2023 and the withdrawal of Russian peacekeepers. The company is eager to expand its operations beyond its current projects in Gadabay and Gosha, having initiated preliminary negotiations and documentation to access regional assets in Karabakh.
A recent visit by Anglo-Asian Mining’s technical team to the Damirli processing plant underscores their commitment to expanding into new territories. Despite not yet gaining official access, the company remains in active negotiations with the Azerbaijani government.
Anglo-Asian Mining operates under a production sharing agreement (PSA) with Azerbaijan, signed in 1997, which includes a 51% share for Azerbaijan and a 49% share for the company. Currently, they manage eight contract areas in Azerbaijan, with gold production at Gadabay starting in 2009 and the Gosha area becoming operational in 2013.
Economic expert Vugar Bayramli highlighted the abundant natural reserves in the liberated territories, such as Karabakh and East Zangezur, and emphasized the importance of foreign investment and modern technology in their development. He noted significant gold, copper, and silver deposits in Kalbajar and Zangilan, expecting these areas to attract foreign investment, increase Azerbaijan’s export capabilities, and boost state revenues.
Emin Garibli, another economic expert, noted Anglo-Asian Mining’s long history in Azerbaijan, citing their production of 50,000 to 54,000 ounces of non-ferrous metals in 2023. He mentioned the involvement of the state company AzerGold in similar regions and highlighted the potential positive impact of foreign investment and new technologies on Azerbaijan’s industrial sector.
Overall, Anglo-Asian Mining’s strategic efforts and collaborations with the Azerbaijani government aim to leverage the region’s rich natural resources, enhance production capabilities, and contribute to the country’s economic growth.
