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Anglo Asian Mining discussing sale of shares to Azerbaijan

22 August 2019 16:40 (UTC+04:00)
Anglo Asian Mining discussing sale of shares to Azerbaijan

By Trend

R.V. Investment Group Services LLC, subsidiary of Anglo Asian Mining (ААМ), gold, copper and silver producer in Azerbaijan, has been in recent discussions with the Azerbaijani government and other parties in relation to the possible sale of the company’s shares, Trend reports referring to AAM.

Such discussions are preliminary and no terms have been discussed or agreed upon. There can be no certainty that these discussions will result in any transactions, the company said.

The company further noted that it regularly has discussions with other parties regarding the development of the Group.

According to the Azerbaijani Ministry of Economy’s statement, it attracted the US company OMNI as a consultant to redeem the share of R.V. Investment Group Services LLC in AAM. The amount of the contract is 265,000 manats.

The agreement on the division of production for the development of six gold deposits in Azerbaijan was signed by Azergizil former state concern and the US R.V. Investment Services Group LLC on August 20, 1997. Azerbaijan's share in the contract is 51 percent, R.V. Investment Services Grouр LLC - 49 percent.

The contract is signed for the development of Gadabay, Gosha and Ordubad fields.


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