Azerbaijan-focused miner Anglo Asian Mining says its plans to diversify and increase right into a mid-tier copper producer can progress as growth groups can “instantly” begin work at newly acquired contract areas.
The mining firm introduced on 6 July that manufacturing sharing agreements had been ratified by the parliament of Azerbaijan that grant the corporate three new contract areas with a mixed space of 882 sq. kilometres.
Anglo Asian chief govt Reza Vaziri informed Mining Journal that the deal on the Garadagh, Xarxar and Demirli areas had been signed after 18 months of negotiations with the federal government. “Work can begin on them instantly … [T]eams are in place there are beginning work instantly”.
Demirli has estimated reserves of over 500,000 tons of copper, whereas the Garadagh porphyry deposit is estimated to include greater than 300,000 tonnes of copper. This boosts the corporate’s plans to evolve in direction of being a copper producer because the metallic comes extra into demand for the power transition.
“For these tasks, the infrastructure is already there, as an illustration the corporate’s close by floatation plant and crops are able to go,” he mentioned.
Stephen Westhead, Vice President at Azerbaijan Worldwide Mining Firm, mentioned it was potential that the brand new licence areas had extra reserves than acknowledged in Soviet-era information the corporate has checked out.
“We have beforehand carried out helicopter geophysics surveys and have recognized a variety of porphyry and epithermal mineral deposits we shall be following up on,” he mentioned. “And considered one of these, we’re bringing into manufacturing subsequent 12 months – within the Xarxar contract space.”
“Referring to our transition from gold in direction of copper, it is essential to notice that once we had been trying on the restructuring of our licennces, we had been clearly conscious of the deposits of Garadagh and Xarxar, that are about 4km to the north or our perimeter at Gedabek.”
“The Soviet-reported sources for Garadagh by itself is over 318,000 tonnes… we imagine Xarxar is increased grade than Garadagh. Now with tasks at that kind of scale, we might be trying to goal manufacturing of 25,000 tonnes every year.”
He famous that the corporate will now be endeavor its personal unbiased information validation tasks for the areas, including that the earlier miner working within the space carried out 26,000 m of drilling there. He says for these tasks there can be a timeline of between three to 5 years.
“Considering the opposite deposits, which might allow an identical scale of manufacturing, as an general firm we will goal 150,000 tons every year. This could very a lot take us from being a junior-level firm to mid-tier standing.”
Westhead mentioned the “complete geological and mining crew was so enthusiastic about these alternatives,” including that the crew had even recognized additional “important” targets alongside the northern a part of its contract are the place they’ve carried out Z‐Tipper Axis Electromagnetic (ZTEM) work.
“Going ahead, we should keep in mind that we’ve a number of territory with what we imagine to be extraordinarily fertile mineralisation and alternative for brand new discoveries.”