Anglo Asian Mining: Manat devaluation to reduce expenditures by $13M

Anglo Asian Mining: Manat devaluation to reduce expenditures by $13M
# 03 June 2016 09:16 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. Manat devaluation in 2015 will have positive impact on AngloAsian Mining’s activity in 2016, APA-Economics reports citing to the company’s statement on outcomes of activities in 2015.

“We sell our products at USD. Majority of expenditures are in manat. We think the devaluations will have positive impact on Anglo Asian Mining’s activity in 2016.According to our calculations, in case 1 USD makes around AZN 1.5, our operating expenses will decline by $13 million”, the company said.

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