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Analyzing the Impact: Anglo Asian Mining's Largest Shareholder Witnesses Defiance

Analyzing the Impact: Anglo Asian Mining's Largest Shareholder Witnesses Defiance

  The Armenian National Committee UK expressed outrage against an insurance company for "applauding" a longstanding dispute between Armenia and Azerbaijan regarding mineral-rich territory disputed between both sides, known as Nagorno-Karabakh War. Anglo Asian Mining Plc managers should utilize Weighted SWOT analysis to narrow down and focus on only the most relevant critical factors, thus improving accuracy of results. Reza Vaziri Reza Vaziri, an Iranian-American businessman and director at Delaware-based RV Investments is the main shareholder of Anglo Asian Mining and also serves as its largest shareholder. His son Michael Vaziri also works for this company through RV Investments. Anglo Asian site describes Azerbaijan as a politically stable democracy with an established democratic government that fully supports international investment initiatives; Freedom House views it as an authoritarian state. In the early 2000s, Azerbaijani government awarded stakes in several gold fields to a shell company owned by members of President Ilham Aliyev's family, according to investigative journalists. Investigative reporters claimed these companies received their rights through corrupt ministries before using foreign loans for development before being listed on AIM--a junior market of London Stock Exchange with minimal regulations -- before eventually eventually being listed publicly as AIM shares. Azerbaijan Investment Market listed two new gold mines owned jointly with state-owned oil firm SOCAR as joint ventures on AIM's list, and profits from them went into Aliyev's close circle, such as his wife and children, while helping fund CBC Azerbaijan -- an anti-Armenian television channel with content in Armenian as well as creating content in multiple languages -- to fund them directly. As war broke out in early 2020, Anglo Asian and its subsidiaries received state subsidies to cover production costs despite international calls for an end to fighting, which focused on taking back land claimed by Azerbaijan but controlled by Armenia. Emails made public by openDemocracy reveal that Anglo Asian had a meeting with the British Embassy in Baku in October 2020, during which it offered to introduce Anglo Asian to UK engineering consultancies that specialize in underground mine development and upskill its workforce - however this offer failed to take into account that Anglo Asian's contracts include concessions in disputed territory. Anglo Asian's website promotes Azerbaijan for its stability and low labor costs as attractive reasons to invest there, while according to reports by The Age it appears as though one managing director from Unaoil Oil Co may have been used as a conduit for illegal payments by local oil firms and may have even participated in illegal bribery schemes in Azerbaijan's oil sector. Unaoil is now subject to investigation by UK Serious Fraud Office. John Sununu Anglo Asian Mining PLC (LON:AAZ) is held by individual insiders who hold significant shares, so those individuals stand to benefit most or lose most from its success. Therefore, it's crucial that we understand what these individuals are doing with their shares. Mohammad Reza Vaziri, an Iranian businessman living and operating in Azerbaijan where Anglo Asian has multiple mines, is Anglo Asian's biggest shareholder and chairman of a US-based lobbying group that works closely with both Azerbaijani government and businesses. Furthermore, Vaziri holds majority ownership in local bank in Azerbaijan as well as being tied to Panama Papers investigations. Vaziri's company RV Investment Group Services LLC owns roughly 20% of Anglo Asian Mining, and is listed as exerting "significant control." RV has been involved in Azerbaijan for a number of years now - working on Gedabek mine and other projects as well as projects in Tanzania and South Africa. State of New Hampshire, which holds 8% of Anglo Asian shares, provides another significant investor. This gives New Hampshire an incentive to promote and assist Anglo Asian's expansion and success, especially since New Hampshire Governor Chris Sununu (Republican) is the son of former governor and White House Chief of Staff John H. Sununu as well as brother to former Senator and Representative John E. Sununu who were both held by his family as major investors. Sununu brings extensive legislative, financial and economic experience. He was a member of the Senate Banking, Finance and Commerce committees before co-chairing George H.W. Bush's 1988 presidential campaign as cochairman. Additionally he served on two publicly traded companies' boards of directors - Boston Scientific and Time Warner Cable. Sununu is known for his nonpartisan approach to issues and his expert speakers are sought out on numerous subjects. Drawing upon his engineering and business background, he often speaks on issues pertaining to technology's influence on society and industry as well as climate change debate challenges and opportunities. Exclusively represented by Leading Authorities Inc. The Azerbaijani Government Ilham Aliyev of Azerbaijan recently welcomed British businesses to invest in his nation's "liberated territories," including a London-listed mining firm set to profit from last autumn's war over Nagorno-Karabakh, according to openDemocracy's findings. Anglo Asian Mining was given support from British government after it learned of their plans for accessing mining concessions seized during Azerbaijani forces' 44-day conflict which concluded on November 9th. The UK Embassy in Baku sent Anglo Asia an email stating, "The [Azerbaijani] Government is keen for Anglo Asia to start operations at their mines in Zangilan and Kalbajar as soon as possible, so we are happy to assist and facilitate wherever necessary." Anglo Asian announced on its website that they have signed an agreement with the Azerbaijani Government to explore their Vejnaly copper and gold project in Zangilan and Kalbajar areas of Azerbaijan for five years, with an option to extend this for 15 more. Furthermore, concessions include Garadagh Porphyry Copper Deposit as well as Xarxar Copper Deposit. According to Anglo Asian Mining's website, Anglo Asian Mining generated annual revenues in excess of $100 million from Gosha and Gedabek contract areas located to the north of Nagorno-Karabakh last year. They estimated that their Vejnaly project could generate annual revenues in excess of $1.5 billion if developed and operated at full capacity. On its website, Anglo Asian Mining asserts that its operations are supported by both the Azerbaijani Government and people. Furthermore, they boast of their outstanding track record with local communities. Finally, they claim that Anglo Asian Mining works closely with them to ensure all projects adhere to legal framework in Azerbaijan. Anglo Asian Mining is listed on London's Alternative Investment Market (AIM), known for its lax regulation. Institutional investors such as banks have signed on, signalling that Anglo Asian Mining's reputation among professional investors. But remember: even institutions can make risky investments from time to time. The Armenian Government As tensions between Armenia and Azerbaijan flared last autumn, one London-listed mining company stood to profit. When war between these countries broke out last autumn, Anglo Asian Mining of London stood to take advantage. According to openDemocracy sources, British Embassy staff offered help Anglo Asian Mining gain access to mining concessions in territories between them fought over. They also shared information regarding Anglo Asian's plans for these territories. Anglo Asian has entered into a production-sharing agreement with Azerbaijan that grants it rights to explore mineral-rich regions of Western Azerbaijan and Nagorno-Karabakh. The deal includes Kashen copper-molybdenum mine, located within Artsakh's Martakert region; this area was under control of indigenous Armenian government after World War I. Anglo Asian Mining has come under heavy criticism for its role in the war and plans to exploit disputed territories. A grassroots group known as Armenian National Committee UK released a release blasting Anglo Asian's position during the conflict, particularly an AIM-listed statement welcoming what Anglo Asian termed as the liberation of Zangilan district, where Anglo Asian operates their Vejnaly contract area. According to Anglo Asian, however, exploration will only resume once Azerbaijani government confirms cessation of hostilities has stopped and safe conditions exist so they can begin exploring and developing Vejnaly contract area. Reza Vaziri, the largest shareholder of Azerbaijan Energy Services Company (AESCO), has extensive ties to Azerbaijan dating back decades as an Iranian government official and oil industry employee in Tehran and working for Azerbaijan's oil industry in Baku. Furthermore, he was appointed a senior advisor by ruling Aliyev family and connected to Azerbaijan President Ilham Aliyev's business empire which has provided funding for many of his ventures. Emails seen by openDemocracy revealed that Anglo Asian Mining's representative described Libero's investment as part of their plan to diversify their resource portfolio and commodity mix, adding that Anglo would continue working closely with local communities and governments to ensure best practices. Anglo Asian's close ties with authoritarian regimes in Azerbaijan and Turkey make it particularly perilous. Take three steps now to urge Governor Sununu and his family to divest their shares from Anglo Asian Mining, ending the cycle of genocide and protecting indigenous Christian Armenians living there.

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