Thirty days into the brutal war between Armenia and Azerbaijan last autumn, a small, London-listed company staked its claim to what lay beneath the killing fields. Anglo-Asian Mining had been waiting for decades. Since 1997, the company has held the rights, granted by Azerbaijan, to three gold deposits beyond its reach, in territories controlled by Armenians. In an October 27 press release it announced that it was looking forward to tapping its 3...

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