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Anglo Asian Mining draws down USD10 million from Azerbaijan bank

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Anglo Asian Mining PLC on Monday said that it drew down a USD10 million tranche from the International Bank of Azerbaijan.

The Azerbaijan-focused gold, copper and silver producer said the draw down was under a revolving credit facility which was suspended whilst the Micon environmental review was carried out, of which the final report was delivered on September 26. Consultants from Micon International Co Ltd had started visiting Anglo Asian’s operations at the Gedabek tailings dam in August to carry out a full environmental inspection on behalf of the Azerbaijani government.

The loan was drawn down under Anglo Asian’s credit line of about USD32.3 million.

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Source: London South East

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