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National grid hook-up 'a really good thing for us' says Anglo Asian Mining Plc CFO Bill Morgan

Azerbaijan-focused miner Anglo Asian Mining Plc (LON:AAZ) said its Gedabek gold, copper and silver mine was now hooked up to the national grid.

CFO Bill Morgan tells Proactive: ''This is quite a good thing for us really and it means two things. Firstly it means we've got some very significant cost savings because obviously the capital cost of the electrical installation will be paid back within a year and then we're looking at cost savings on our existing operation of around $2.3 mln a year. Given the context of a business of our size that is a very significant cost saving''.

''Also, it means that there are now no longer any power constraints on us expanding the mine''.

''If we want to start upgrading the plant or putting in new machinery or doing anything really is not an issue''.

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