Anglo Asian Mining PLC Equipment Purchase and flotation plant upgrade (6235Q)
22 Fevereiro 2023 - 4:00AM
UK Regulatory
TIDMAAZ
RNS Number : 6235Q
Anglo Asian Mining PLC
22 February 2023
22 February 2023
Anglo Asian Mining PLC
Equipment Purchase and flotation plant upgrade
Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM
listed gold, copper and silver producer focused in Azerbaijan, is
pleased to announce it has placed orders for the major items of
equipment required for production from its new Zafar and Gilar
mines. The Company has also made progress with the upgrades to its
Gedabek flotation plant.
Zafar and Gilar
The equipment includes an underground fleet from Caterpillar and
drilling machinery from Epiroc. The total equipment cost is
approximately $10 million, approximately 40 per cent. of which will
be met from the Company's existing cash reserves with the remaining
being financed through vendor financing. The equipment is a
significant investment for the Company, underpinning its confidence
to achieve its stated ambition to transition to mid-tier copper
production status. The equipment ordered is set out below in
Appendix One.
Gedabek flotation plant upgrade
As previously stated, an expansion of the flotation plant is
underway together with adding a further line to produce zinc
concentrate. The total cost of the expansion is currently estimated
at $3 million which will be paid from the Company's existing cash
resources. Contractors have been appointed to supply materials for
the new flotation line. Additional contractors will be commissioned
to modify the existing building and provide electrical services and
control equipment. The modifications to the flotation plant to
increase its capacity have now been broadly completed. The
installation of the new flotation line using hydraulic flotation
cells will be completed by the end of the year.
Stephen Westhead, Vice-President of Anglo Asian, commented: "The
new equipment will be used to expand the Company's mining and
processing operations with the development of two new underground
mines this year. The expansion of our flotation plant has been
broadly completed, doubling capacity and creating additional
processing flexibility. This represents an important step in our
medium-term growth ambition to become a mid-tier production miner,
and significantly increases our capabilities within copper."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014, which was incorporated into UK law by
the European Union (Withdrawal) Act 2018, until the release of this
announcement.
For further information please contact:
Anglo Asian Mining plc
Tel: +994 12 596
Reza Vaziri, Chief Executive Officer 3350
Tel: +994 502 910
Bill Morgan, Chief Financial Officer 400
Tel: +994 502 916
Stephen Westhead, Vice President 894
SP Angel Corporate Finance LLP (Nominated Adviser Tel: +44 (0) 20 3470
and Broker) 0470
Ewan Leggat
Adam Cowl
Hudson Sandler (Financial PR) Tel: +44 (0) 20 7796
Charlie Jack 4133
Harry Griffiths
Appendix One
Underground Mining Equipment Ordered
EQUIPMENT TYPE NUMBER EQUIPMENT
-------
EPIROC 1 Jumbo - Epiroc Boomer S1
DRILLING EQUIPMENT D
-------------------- ------- ---------------------------------
3 Jumbo - Epiroc T1D
-------------------- ------- ---------------------------------
1 Production Drills - Epiroc
Simba S7 D
-------------------- ------- ---------------------------------
1 Production Drills - Epiroc
H1354
-------------------- ------- ---------------------------------
CATERPILLAR 3 Underground Mining LHD CAT
LOADING EQUIPMENT R1700
-------------------- ------- ---------------------------------
2 Wheel Loaders Caterpillar
UMA 980
-------------------- ------- ---------------------------------
AUXILLARY EQUIPMENT 1 Paus TSL853 Central articulated
steering telescopic swivel
loader
including: Working basket
platform, Hydraulic hammer,
Loading hook, Lifting forks,
Loading bucket, 4 in 1 -
shovel, ANFO charging unit,
Rear power lift, and tyre
handling attachments
-------------------- ------- ---------------------------------
2 Tunelmak ADROIT 520-2 AH
4x4 Hydrostatic Basket Platform
-------------------- ------- ---------------------------------
1 Tunelmak ADROIT 420AH 4x4
Articulated Hydrostatic
Shotcrete Pump
-------------------- ------- ---------------------------------
GENERATORS 1 Power & Control Sync Panel
-------------------- ------- ---------------------------------
2 Power & Control Cables
-------------------- ------- ---------------------------------
2 CATERPILLAR C18 Model 660KVA
50Hz, 400V, 1500 RPM
-------------------- ------- ---------------------------------
3 Power & Control Sync Panel
-------------------- ------- ---------------------------------
6 Power & Control Cables
-------------------- ------- ---------------------------------
6 CATERPILLAR C18 Model 850KVA
50Hz, 400V, 1500 RPM
-------------------- ------- ---------------------------------
ATLAS COPCO 3 1 Atlas Copco GA 132
COMPRESSORS
-------------------- ------- ---------------------------------
4 Atlas Copco XAVS600 PACE
SQE, 8161007346
-------------------- ------- ---------------------------------
Note to editors
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer in south-west Asia with a broad portfolio of production
and exploration assets in Azerbaijan. The Company produced 57,618
gold equivalent ounces ("GEOs") for the year ended 31 December
2022.
In December 2021, the Company undertook a private placement
which acquired 19.8 per cent. of Libero Copper & Gold
Corporation ("Libero"). Libero is listed on the TSX Venture
Exchange in Canada and owns, or has the option to acquire, several
copper exploration properties in North and South America, including
Mocoa in Colombia, one of the world's largest undeveloped
copper-molybdenum resources. Two further follow-on investments have
been made in Libero to maintain the Company's shareholding at 19.8
per cent.
On 5 July 2022, the Parliament of Azerbaijan ratified amendments
to the Company's Production Sharing Agreement, which granted it
legal title to three additional concessions with a combined area of
882 square kilometres, including the Garadagh porphyry copper
deposit, with a Soviet classified resource of over 300,000 tonnes
of
copper. https://www.angloasianmining.com/
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