Anglo Asian signs Vendor Financing Facility Agreement with Caterpillar

In December 2023, AIMC took delivery of a fleet of Cat® underground mining equipment for its new Gilar mine, comprising three R1700 underground loaders and two 980UMA underground loaders. The underground fleet cost US$4.6 million which has already been paid by AIMC. US$3.7 million of that purchase price will be refinanced by the Facility which has now been agreed and signed.

This is the first time Cat Financial will provide vendor financing to a customer in Azerbaijan and the first time Cat® underground equipment has been deployed in Azerbaijan.

Reza Vaziri, Chief Executive Officer of Anglo Asian Mining, commented:

“This is an important achievement for AIMC, which further enhances our relationship with Caterpillar following the milestone delivery of their equipment last year. This transaction is a first for Caterpillar within Azerbaijan, and we are proud that this is also its first agreement of this type in Azerbaijan. Congratulations to both AIMC’s team and Caterpillar for their hard work on this achievement. The facility cements our relationship with Caterpillar and we look forward to a long and mutually beneficial future partnership.”

Read the article online at: https://www.globalminingreview.com/mining/09052024/anglo-asian-signs-vendor-financing-facility-agreement-with-caterpillar/