TIDMAAZ
RNS Number : 8973N
Anglo Asian Mining PLC
28 September 2023
28 September 2023
Anglo Asian Mining plc
Final Micon environmental report
Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM
listed gold, copper and silver producer focused on Azerbaijan
provides an update on the final Micon report (the "Report") which
was delivered on 26 September 2023 to the Company and the
Government of Azerbaijan (the "Government").
Background to the Report
Micon International Co Limited ("Micon") was commissioned on 21
July 2023 by the Company and the Government to undertake a Health,
Safety and Environmental due diligence review of the tailings
management at Gedabek gold mine (the "Review"). The Review also
included soil and water sampling and the testing of air quality in
the vicinity of Gedabek. The Review was commissioned following
protests in July 2023 by local residents against the proposed
construction of a second tailings dam close to the location of the
Company's existing tailings dam.
Work undertaken at the Gedabek site pursuant to the Review
Three Micon employees visited Gedabek between 25 to 27 July 2023
where they undertook a detailed investigation of the processing
facilities and visited environmental monitoring locations and the
Company's existing tailings dam.
IQLIM Environment Analytical ("IQLIM"), an Azerbaijan
environmental engineering company, also visited the Gedabek site
between 25 July 2023 and 1 August 2023 on behalf of Micon. During
this period, IQLIM carried out sampling of soils and surface and
ground water. They also conducted air quality and noise monitoring.
The environmental samples taken were analysed by the Caspian
Environmental Laboratory in Azerbaijan, an accredited independent
laboratory.
The Company engaged Mine Environmental Management ("MEM") to be
present during the Micon and IQLIM site inspections to ensure they
were conducted in accordance with industry standards. MEM was in
attendance at Gedabek throughout both visits. The Company's
tailings dam consulting engineers, Knight Piésold, were also
present during the Micon site visit. Azecolab, an accredited
laboratory, was also engaged by the Company to take duplicate
environmental samples which were analysed at Azecolab's
laboratory.
Environmental sampling carried out at the Gedabek site
Water sampling
17 surface water samples, plus one duplicate (18 in total) and
18 groundwater samples, plus two duplicates (20 in total) were
taken by IQLIM.
Soil sampling
A total of 29 composite (bulk) soil samples (plus three
duplicates) were taken by IQLM from locations in and around the
Gedabek site, including background locations, the mine site itself,
the area around the tailings dam and its pipeline corridor and
local settlements.
Air quality, noise and radiation monitoring
Sampling was carried out on air quality using portable gas,
dust, noise, vibration and radioactivity analysers.
Results of the Review and main conclusions in the Report
The main findings of the Report were as follows:
-- Radiation levels at Gedabek are aligned with natural
background conditions for the area. Noise levels were low and
within acceptable limits. No issues of concern were identified with
air quality
-- No cyanide was found in any soil sample above the limits of
analytical detection (<0.06 milligrams per kilogram)
-- Very low concentrations of cyanide (0.013 to 0.23 milligrams
per litre) were found in four water samples (taken from three
monitoring stations and one surface station) out of 35 samples
taken, although all were well within the guidelines of the
International Finance Corporation ("IFC") Environmental and Social
Performance Standards Limits (IFC Environmental, Health, and Safety
Guidelines for Mining).
-- The Report concluded "Opposition to the proposed new tailings
storage facility is the result of a lack of proactive communication
between the site management team and the local community,
longstanding issues regarding land allocation and mineral rights,
and the failure to follow accepted international protocols for
public consultation, rather than a fundamental technical problem
with the current tailings storage facility or the proposed location
for the new tailings storage facility."
-- The management of the Gedabek site included various examples of good practice:
o Knowledgeable and experienced technical staff
o The existing tailings dam is in generally good working
condition
o Good signage at the water bodies
o Topsoil is stockpiled for rehabilitation and closure
o The site appeared generally clean and tidy
-- Various issues were highlighted for improvement:
o The emergency response capability at the Gedabek site for
dealing with a cyanide incident was inadequate
o The Company's environmental monitoring and associated
documentation should be strengthened so issues are identified at an
earlier stage
o The Gedabek operation does not have a dedicated community
relations department and is therefore limited to administrative
work rather than proactive communication in the field
-- Recommendations were also made to improve some operational,
social and safety aspects of the Gedabek site
Next steps
The Board is carefully considering the findings of the Report
and is in active dialogue with the Government and local communities
at Gedabek with regard to implementing the recommendations in the
Report. Further updates will be made in due course, including
regarding the resumption of agitation leaching and flotation
processing at Gedabek.
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
Adviser and Broker) 3470 0470
Ewan Leggat
Adam Cowl
Hudson Sandler (Financial PR) Tel: +44 0) 20 7796
Charlie Jack 4133
Harry Griffiths
Notes to editors
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 57,618 gold
equivalent ounces ("GEOs") for the year ended 31 December 2022.
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 2028, 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 2023 to 2028 at Zafar, Gilar, Xarxar and
Garadag.
The Company owns approximately 17.4 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.
https://www.angloasianmining.com/
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