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Azerbaijan-based gold mining company gets undeniable facts to file a lawsuit against Armenia with the international court

16 February 2009 15:07 (UTC +04:00)

Reza Vaziri, CEO of the Company, told APA-Economics that the video footage shows exploitation of gold in the deposit through a large number of vehicles and trucks there.
â€œWe have discussed these facts with our lawyers. We are preparing necessary paperwork for the international court,â€ he added.
According to him, a decision will be taken after discussing the facts and next steps with the Government of Azerbaijan.
Besides, Anglo Asian Mining Plc. will discuss the issue at a board meeting in late March.
Anglo Asian Mining Plc (49%) and Azerbaijan (51%) signed a 30-year Production Sharing Agreement (PSA) to develop previously identified copper and gold properties in Azerbaijan that lie on the Tethyan Mineralization Belt which runs between Turkey and Pakistan.
The joint venture has copper and gold development properties in 3 separate mining areas of Azerbaijan.
The six fields reflected in the agreement include one field in Nakhchivan, one in Gandja, one in Gedebey, 3 in the occupied lands (Zod Field in Kelbedjer, Kizilbulag in Aghdara, and Vajnali in Zangilan).
Under the Production Sharing Agreement, 400 tons of gold, 2,500 tons of silver and 1.5 million tons of copper will be extracted from the contract fields.