Anglo-Asian Mining's cash flow declines

At the end of the third quarter of this year, the British Anglo-Asian Mining Company, which produces gold, silver, and copper in Azerbaijan, had $30.9 million in assets.

According to the company's report for the third quarter, cash flow is $5.7 million or 15.6% less than in the third quarter of 2020.

Anglo-Asian Mining cash flow in the third quarter of last year amounted to $36.6 million.

Anglo-Asian Mining is engaged in production in Azerbaijan under the PSA (Production Sharing Agreement) signed on August 21, 1997. Azerbaijan's share in the agreement is 51%, while the company's share is 49%. The first gold production (in the Gadabay field) began in 2009.

Gadabay is an open-pit mine with integrated mines. The company is also engaged in production at the Gosha underground mine, 50 km from the Gadir and Gadabay fields, and at the newly discovered Ugur field.