Anglo Asian Mining PLC, a leading AIM-listed gold, copper, and silver producer in Azerbaijan, has finalized a strategic copper concentrate sales agreement with global commodities trader Trafigura Pte Ltd. This deal underscores Anglo Asian’s growing role in the global copper and molybdenum market.
The agreement features a revolving prepayment facility of up to $25 million, providing enhanced liquidity and operational flexibility for the company’s mining operations.
Anglo Asian has received the necessary licenses from the Azerbaijani government to operate the Demirli processing plant, with formal documentation being finalized in parallel. The company has also secured approval to use the existing tailings dam for up to 12 months while a second dam is constructed. Operations at the processing plant have officially commenced under the current lease.
The copper concentrate sales contract has received full government approval, with the first shipment expected soon. The Demirli mine commissioning is underway, positioning the project to ramp up copper production efficiently.
Anglo Asian forecasts that Demirli will produce around 4,000 tons of copper concentrate in its first operational year, increasing to approximately 15,000 tons of copper annually in the following years. Historical estimates indicate the Demirli deposit contains roughly 275,000 tons of copper and 3,200 tons of molybdenum, reinforcing its strategic value in the critical metals sector.
The company holds development rights across eight contract areas in Azerbaijan, currently mining precious metals from Gadabay and Gosha. Under the existing production and revenue-sharing framework, AzerGold CJSC, representing the Azerbaijani state, holds 51%, while Anglo Asian retains 49%.
This milestone cements Anglo Asian Mining’s position as a key copper and molybdenum producer in the region and strengthens strategic partnerships with global trading firms to supply critical metals to international markets.
