Azerbaijan International Mining Company
Azerbaijan International Mining Company is a wholly owned subsidiary of Anglo Asian Mining PLC. AIMC develops and operates mining facilities in the Republic of Azerbaijan. Anglo Asian is an AIM quoted, cash generative and profitable gold and copper mining and exploration company in Azerbaijan. The Company moved into gold production in May 2009 at its flagship Gedabek gold/copper mine located in western Azerbaijan. The mine, which is an open pit, heap leach operation, produced 57,068 ounces of gold for the last full year of operation to 31 December 2011. Additionally Gedabek produces copper through its Sulphidisation, Acidification, Recycling and Thickening ('SART') plant, which recovers copper in the form of a precipitated copper sulphide concentrate containing silver with commercial value.
The Company has a 1,962 sq km prospective portfolio of gold/copper assets at various stages of the development cycle and has implemented defined exploration programmes to delineate and upgrade the Company's resource base, which currently stands at 1,276,000 ounces of gold, 94,900 tonnes of copper and 10,306,000 ounces of silver for all categories. These gold/copper assets are focused within three primary Contract Areas in Azerbaijan. The rights to explore and develop all minerals in these areas are governed by a Production Sharing Agreement with the Azerbaijan Government.