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Armenian Aggression

New copper and gold field discovered in Azerbaijan

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Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM-listed gold, copper, and silver producer focused in Azerbaijan, announced a new copper-gold discovery, "Zafer", within the central region of its Gedabek Contract Area ("Gedabek CA") in western Azerbaijan, Trend reports referring to the company.

"The Company is undertaking the work necessary to produce JORC estimates for the new discovery and to determine the best way to commercially exploit the mineral occurrence," CEO and President Reza Vaziri said.

"Initial drilling is focused on areas identified by geological mapping, geophysics data, and the structural geology, and 12 drill holes have been completed with a total length of 7,675 meters,” Stephen Westhead, Director of Geology and Mining, said. “Some 10 profile lines totaling nearly 25 kilometers were also completed using ground-based induced polarisation electrical geophysics. This work identified three mineralized zones within an elongated structure. The most significant downhole intercept is 113 meters at 0.5 percent. copper and 0.7 grams per tonne of gold. This thickness and style of mineralization are consistent with porphyry-type mineralization.”

"The geological team at Gedabek continues to evaluate the continuity of mineralization within the deposit to develop resources for future economic evaluation," Westhead added.

Anglo Asian Mining plc is a gold, copper, and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company has a 1,962 square kilometer portfolio.

The Company's main operating location is the Gedabek contract area ("Gedabek") which is a 300 square kilometer area in the Lesser Caucasus mountains in western Azerbaijan.

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Armenian Aggression

Azerbaijan to hold new auction for public property facilities

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The State Service on Property Issues under the Azerbaijani Ministry of Economy will hold a new auction on March 30, 2021, Trend reports referring to the ministry.

According to the ministry, 101 public property facilities, including 25 small enterprises and facilities, 36 vehicles, and 40 state share packages of joint-stock companies will be put up for the auction.

The service said that those wishing to participate in such auctions can not only place an electronic order for the selected object of the service but also join the online auction.

Interested participants can visit the Space for the provision of property services of the State Property Service of Azerbaijan on the day of the auction, as well as observe it without registration online.

All those wishing to partake in the auction on the official website of the service (emlak.gov.az) or on the privatization.az portal must, after registering, pay a deposit of 10 percent of the initial auction price of the object, thereby obtaining the status of the customer. On the day of the auction, bidding can be joined by selecting the section ‘Electronic auction’ on the e-services portal (e-emdk.gov.az).

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Armenian Aggression

Azerbaijani Azerenerji reconstructing country’s second largest HPP

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Azerbaijan’s Azerenerji OJSC continues measures to eliminate the dangerous situation that has arisen in the reservoir of Shamkir hydroelectric power station, the second largest hydroelectric power plant in the country, Trend reports citing Azerenerji OJSC.

"In order to eliminate the emergency situation, repair work on this reservoir began in 2020, which is carried out by a local company together with experts from Azerenerji OJSC. Work is underway on the reconstruction, concreting, and repair of the reservoir. To date, 90 percent of the work has been completed. Reconstruction of the facility is planned to be completed in April 2021,” said the message.

“In particular, repair and restoration work was carried out at the hydraulic units of the Shamkir HPP, a major overhaul of a block autotransformer with a capacity of 330 kilovolts was carried out. Thus, the "lost" power is restored, the durability and reliability of the installation are increased. The reconstruction of the open switchgear of the Shamkir HPP and the SCADA dispatch control system is also underway,” said the company.

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Armenian Aggression

Turkish president approves one more agreement with Azerbaijan

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Turkish President Recep Tayyip Erdogan has approved the ‘Preferential Trade Agreement between the Government of Azerbaijan and the Government of Turkey’, Trend reports.

The agreement has entered into force.

The document was signed in Baku on February 25, 2020.

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