Anglo Asian Mining PLC is listed on the Alternative Investment Market of the London Stock Exchange. The company seeks to gain access to mining concessions in the territory of Nagorno-Karabakh and other adjacent areas. The UK government supports it.
Anglo Asian Mining PLC has contracts with the Azerbaijani government for the development of gold mines for 20 years.
At a meeting with the Azerbaijani state mining company, representatives of the British Embassy in Baku quietly raised problems and questions on behalf of Anglo Asian. T rade representatives sought to identify opportunities for British firms in the mining sector.
The history of friendly relations for several years between Anglo Asian Mining and the embassy became clear from the electronic correspondence. The British government refused to disclose its full content in the intention to prevent harm to the interests of the company and damage to the international relations of Great Britain, Azerbaijan and Armenia, as well as the interests of Great Britain in these countries.
As part of its contract, Anglo Asian Mining is entitled to receive no more than 75% of the proceeds from the sale of minerals to offset all operating, contingent interest and capital costs. The company informed the Embassy about its projects, including information about the Production Sharing Agreement (PSA) with the Government of Azerbaijan. This gives the company the rights to develop mineral-rich areas in western Azerbaijan, as well as deposits in Nagorno-Karabakh and other territories that were still under Armenian control at that time.
The Embassy offered to introduce Anglo Asian to British engineering and consulting companies engaged in the development of underground mines and to help the company improve the skills of its employees.
The UK remains the largest investor in Azerbaijan. Their relations are based on the participation of British multinational corporations in the country's dominant oil and gas sector.
The UK government recently updated its official guide on the risks of foreign business in Azerbaijan, including information about the huge potential of the "recently liberated territories" in sectors such as renewable energy, agriculture, tourism and mining.
Anglo Asian Mining PLC has exclusive rights to develop mines on the territory of Azerbaijan in accordance with the terms of the contract with the government.