By Elena Vardon
Anglo Asian Mining said that it drew down a $10 million loan from its credit facility to fund the restart of its operations after the government of Azerbaijan said there is no environmental contamination at its Gedabek concession.
The Azerbaijan-focused gold, copper and silver producer said Monday that the tranche is part of its revolving credit facility with the International Bank of Azerbaijan–which had been suspended during the Micon environmental review–and has a fixed 6.5% interest rate.
The London-listed company said its remaining undrawn credit line with the Bank is $18.8 million. It held $20.3 million in cash and had total borrowings of $19.1 million on Sept. 6.
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