Anglo Asian Minerals Signs Contract for Copper Sales With Industrial Metals SA

Anglo Asian Minerals Plc (AIM:AAZ) has signed a three year sales contract with Industrial Minerals SA, a Geneva based mining, logistics and integrated trading group. Industrial Minerals will be the exclusive partner of Anglo Asian minerals to sell copper concentrate product from Anglo Asian’s Gedabek gold, copper, silver mine in western Azerbaijan.

As quoted in the press release:

Under the terms of the sales agreement Industrial Minerals will purchase both dry and wet copper concentrate. Importantly, the Company has 75 tonnes of dry copper concentrate and 550 tonnes of wet copper concentrate stockpiles ready to sell and Gedabek expects to exceed its target to produce 595 tonnes of copper for FY 2014.

Anglo Asian CEO, Reza Vaziri, said:

We are delighted to secure this exclusive sales contract with Industrial Minerals, which will see our copper concentrate product adding to our bottom line and in turn increasing our profitability. With record copper sales from Gedabek totalling US$6.6 million in 2013, we are well placed to continue this trend in 2014 and I look forward to updating shareholders on the copper production and sales in the coming months, as well as on gold production from Gedabek. Developments at our second gold project Gosha, which has started first phase gold production in Azerbaijan, will also materialise. We now have two production projects in the country, which together sees Anglo Asian’s gold forecast for FY2014 between 62,000oz Au and 67,000oz Au.

Click here to read the full Anglo Asian Mining plc (AIM:AAZ) press release