Anglo Asian Mining PLC Commitment to GISTM (2151A)
19 Janeiro 2024 - 4:00AM
UK Regulatory
TIDMAAZ
RNS Number : 2151A
Anglo Asian Mining PLC
19 January 2024
19 January 2024
Anglo Asian Mining PLC
Commitment to Global Industry Standard on Tailings
Management
Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM
listed gold, copper and silver producer focused in Azerbaijan, is
pleased to announce that it has committed to implement the Global
Industry Standard on Tailings Management ("GISTM") at its
operations at Gedabek.
Anglo Asian currently complies with all local tailings dam
regulations. Three international environmental and engineering
consultancies have carried out audits, which confirm the tailings
management facility is operated to international standards.
GISTM is a set of principals governing tailings management
established under the auspices of the UN Environment Programme, the
International Council on Mining and Metals and the Principles of
Responsible Investment. It strives to achieve the ultimate goal of
zero harm to people and the environment with zero tolerance for
human fatality. It requires operators to take responsibility and
prioritise the safety of tailings facilities, through all phases of
a facility's lifecycle, including closure and post-closure. It also
requires the disclosure of relevant information to support public
accountability.
The Principles for Responsible Investment, represented by the
Church of England Pensions Board (the "Pensions Board") together
with the United Nations Environment Programme, is leading a
programme to establish an independent institute to oversee the
implementation of GISTM. The Company has confirmed to the Pensions
Board that they will work towards full compliance with GISTM and
support the formation of the institute.
About the tailings management facility at Gedabek
The Company's tailing management facility is situated
approximately 4.5 kilometres from the Company's processing
facilities at Gedabek. It is a downstream rock fill embankment and
was designed by international consultants (CQA International)
approximately 12 years ago in accordance with the International
Committee on Large Dams ('ICOLD') guidance. This guidance reflected
best practice at the time for the design and construction of
tailings management facilities. The construction of the tailings
embankment was supervised by CQA International. There have been
four construction phases with one further construction phase
required for the facility to reach its final design capacity.
Compliance with the Global Industry Standard on Tailings
Management
The Company is aiming for full compliance by the end of 2026.
Knight Piésold will conduct a GISTM audit in which the Company will
be asked to provide evidence under each of the 15 principals and 77
requirements.
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 Tel: +44 (0) 20 3470
Adviser and Broker) 0470
Ewan Leggat
Adam Cowl
Hudson Sandler (Financial PR) Tel: +44 (0) 20 7796
Charlie Jack 4133
Harry Griffiths
About Anglo Asian Mining
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer with a high-quality portfolio of production and
exploration assets in Azerbaijan. The Company produced 31,821 gold
equivalent ounces ("GEOs") for the year ended 31 December 2023.
On 30 March 2023, the Company published its strategic plan for
growth which shows a clearly defined path for the Company to
transition to a multi-asset, mid-tier copper and gold producer by
2028, by which time copper will be the principal product of the
Company, with forecast production of around 36,000 copper
equivalent tonnes. It plans to achieve this growth by bringing into
production four new mines during the period 2024 to 2028 at Zafar,
Gilar, Xarxar and Garadag.
The Company owns approximately 13.1 per cent. of Libero Copper
& Gold Corporation ("Libero"). Libero is listed on the TSX
Venture Exchange in Canada and owns Mocoa in Colombia, one of the
world's largest undeveloped copper-molybdenum resources.
https://www.angloasianmining.com/
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January 19, 2024 02:00 ET (07:00 GMT)
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