APRIL 23 2024 (The Bulletin) — Stocks generally moved down over the past week, although Anglo Asian Mining, the Azerbaijan-based gold miner showed an upward shift. Analysts warned, though, that this may be a short-term lift as Anglo Asian is still waiting for permission to restart operations at its Gedabek gold and copper mine in western Azerbaijan.

This is its biggest and most important mine and the company has said that it can’t give full guidance on 2024 potential earnings until it knows when it can reopen the mine.

This has been closed since the middle of last year because of a row over how Anglo Asian stores its poisonous waste matter.

Its share price on the London Stock Exchange has roughly halved over the past 12 months to around 68p.

In other equities news, media reported that BAE Systems, the British arms manufacturer, had increased its stake in Air Astana to 16.95% from 15.3%. Until its IPO earlier this year, BAE Systems had owned a 49% stake in Air Astana, Kazakhstan’s national airline.

ENDS

— This story was published in issue 565 of the Central Asia & South Caucasus Bulletin, on April 23 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024