Anglo Asian Mining Plc signs contract to sell copper concentrate from its Karabakh mine

Anglo Asian Mining PLC., the AIM-listed gold, copper and silver producer focused in Azerbaijan, has contracted to sell concentrate produced at its Demirli copper mine in Karabakh to Trafigura Pte Ltd., Report informs referring to the company.

The sales contract includes a revolving prepayment facility of up to $25 million.

Anglo Asian has now received the necessary licenses to operate the processing plant at its Demirli mine from the Government of Azerbaijan. The finalization of the required documentation is ongoing, but the licenses have been granted in parallel with this process.

Anglo Asian has also been granted a permit to use the existing tailings dam for up to 12 months, during which period a second tailings dam will be constructed. The operating lease for the Demirli processing plant commenced on October 1, 2025.

A copper concentrate sales contract has been signed with Trafigura, which has been approved by the Government. The Company expects the first sale of concentrate will be completed in mid-November 2025.

In July 2025, Anglo Asian Mining Plc. announced the commencement of commissioning work for the Demirli mine in Karabakh.

The company forecasts that Demirli will produce approximately 4,000 tons of copper concentrate in 2025. Production is expected to increase to approximately 15,000 tons of copper per year from 2026.

According to unconfirmed estimates as of January 2016, the Demirli deposit contains approximately 275,000 tons of copper and 3,200 tons of molybdenum.

The PSA was signed on August 21, 1997. AAM currently holds development rights to eight contract areas in Azerbaijan, but is currently mining precious metals from two contract areas: Gadabay and Gosha.

The share of Azerbaijan, which is represented in the contract by AzerGold CJSC, is 51%, and the share of AAM is 49%.