MINEX Forum

Tag: Azerbaijan

  • Anglo Asian Mining may secure a loan to fulfill its obligations

    Anglo Asian Mining may secure a loan to fulfill its obligations

    Anglo Asian Mining, a renowned player in the gold, silver, and copper mining sector in Azerbaijan, is considering the possibility of securing a loan to meet the recommendations put forth by the international monitoring company Micon. These recommendations are based on the findings of waste monitoring conducted in the village of Seyudlyu, located in the Gedabey district.

    In response to a question posed by a correspondent from Report dispatched to Seyudlyu, Reza Vaziri, the General Director of Anglo-Asian Mining PLC, acknowledged that despite the company’s consistent profitability, recent events have resulted in approximately $19 million in damages. Vaziri emphasized the importance of fulfilling these obligations and mentioned the potential approach to banks for assistance. He expressed confidence in the trust banks place in the company’s creditworthiness when it comes to loan arrangements.

  • Report on Armenian mining industry’s impact on Azerbaijan’s ecology prepared

    Report on Armenian mining industry’s impact on Azerbaijan’s ecology prepared

    There is a lot of negative information in the Armenian press on this issue. Although the volume of investments in the mining industry of Armenia is increasing, this process is accompanied by rapid destruction of the environmental situation.

    “The ongoing activities of the mining industry do not take place without affecting the environmental situation of the countries in the region. The location of many mines near water sources leads to the discharge of chemical wastes, considered harmful to the environment, into rivers. Approximately 70 percent of Azerbaijan’s surface water resources are generated in neighboring countries through transboundary water flows. Since Armenia is geographically located in the basin of the rivers that pass through Azerbaijan, any mining activities carried out on its territory have a clear environmental impact on our country. As a member of the Espoo Convention, Armenia should be consulted on any activities carried out on its territory and in many cases must obtain Azerbaijan’s consent,” the report says.

    Also, the report includes the results of space monitoring of 26 mining deposits located on the territory of Armenia. Space monitoring works were carried out on the basis of images acquired by SPOT 6 and Azersky (SPOT 7) satellites in 2017 and 2023.

  • Armenia fails to abide by environmental regulations at mining fields

    Armenia fails to abide by environmental regulations at mining fields

    He made the remarks while speaking during the presentation of the report on space monitoring of extractive fields on the territory of Armenia, prepared and presented by the NGO coalition “Environmental Protection First” in cooperation with AzerCosmos.

    Mammadov noted that any activity carried out in fields on the territory of Armenia has an impact on the territory and natural environment of neighboring countries, as well as on the health of the population.

    “We have acceded to the Convention on Transboundary Rivers. However, the upstream countries do not join these conventions, evading their obligations. During almost 30 years of occupation, Armenia has caused very serious damage to the ecology of Azerbaijan by illegally exploiting fields in our territories. Now, after we liberated our territories as a result of the 44-day war, Armenia continues these activities on its lands. It still affects the ecology of Azerbaijan, especially the ecology of the Nakhchivan Autonomous Republic,” he said.

    “Various chemical products are used in the exploitation of these fields. In addition, the explosions have a negative impact on soil fertility, quality of ground and surface water,” Mammadov added.

    He stressed that Armenia should submit relevant environmental reports on the exploitation of the fields in accordance with the obligations undertaken under the conventions to which it has acceded.

    “Unfortunately, the studies that we are conducting as members of the coalition show that they do not observe transparency in carrying out these activities. And we, as a country located in this region, cannot remain indifferent to this. Some fields have been destroyed over the past decades. Space studies show that the territory of these deposits has expanded a lot, and the color of the soil shows that environmental regulations have not been respected,” Mammadov concluded.

  • Energy Cooperation between Hungary and Azerbaijan gains new dimensions

    Energy Cooperation between Hungary and Azerbaijan gains new dimensions

    Hungarian Minister of Foreign Affairs and Foreign Economic Relations Peter Szijjarto recently stated that energy cooperation between Hungary and Azerbaijan is gaining new dimensions. According to Reuters, Szijjarto said that Hungary is in talks with Azerbaijan’s state energy firm SOCAR to start importing gas via Southern Europe from the end of 2023, Azernews reports, citing Prime Minister.

    “We have been in partnership with Azerbaijan for more than a decade. We currently have an agreement under which we plan to purchase 100 million cubic meters of gas from Azerbaijan in the fourth quarter of this year,” Szijjártó said.

    The Hungarian Prime Minister Viktor Orban sought to expand the import-reliant European Union member’s long-term gas contract with Russia during a visit to Moscow on Tuesday. President Vladimir Putin said Russia was ready to provide an additional one billion cubic meters of gas per year.

    The EU and Azerbaijan have also signed a new Memorandum of Understanding on a Strategic Partnership in the Field of Energy. This agreement includes a commitment to double the capacity of the Southern Gas Corridor to deliver at least 20 billion cubic meters to the EU annually by 2027. This will contribute to the diversification objectives of the REPowerEU Plan and help Europe to end its dependency on Russian gas.

    The new Memorandum of Understanding underlines the strategic role of the Southern Gas Corridor in the diversification efforts. Azerbaijan has already increased the natural gas deliveries to the EU and this trend will continue, with up to 4 billion cubic meters of additional gas this year and volumes expected to more than double by 2027.

    The EU and Azerbaijan are also negotiating a new comprehensive agreement, which will allow for enhanced cooperation in a wide range of areas, including economic diversification, investment, trade, and making full use of the potential of civil society while underscoring the importance of human rights and rule of law.

    The strengthened energy cooperation between Hungary and Azerbaijan, as well as the EU and Azerbaijan, will help to ensure stable and reliable gas supplies to the EU via the Southern Gas Corridor and also lay the foundations of a long-term partnership on energy efficiency and clean energy.