Anglo Asian Mining Plc (AAZ), an Azerbaijan gold and copper mining company, is in talks with local and international lenders for a loan to build a new $52 million plant, according to a statement from the company.
The agitation and leaching facility will improve gold recovery rates at Anglo Asian Mining’s Gedabek mine in western Azerbaijan, the Baku-based company said.
Anglo Asian Mining got a $9.4 million term loan from the International Bank of the Republic of Azerbaijan in May 2009, according to data compiled by Bloomberg.
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