IN BRIEF: Anglo Asian Mining agrees sales deal for Demirli copper
Anglo Asian Mining PLC - Azerbaijan-focused gold, copper and silver producer - Announces agreement to sell copper concentrate from its Demirli copper mine in Karabakh to Trafigura Pte Ltd. Says the contract includes a revolving prepayment facility worth up to USD25 million. Company now has the licences necessary to operate the mine's processing plant, although the finalisation of the relevant documents is ongoing. The operating lease for the plant started on Saturday. It also has a permit to use the existing tailings dam for up to 12 months, with a second dam to be constructed during that time. Anglo Asian says the sales contract with Trafigura has been approved by the Government of Azerbaijan, and it expects to complete the first concentrate sale in mid-November. Read More