Anglo Asian completes first copper concentrate sale to Trafigura

Anglo Asian Mining (LON: AAZ) has begun copper concentrate sales from its new Demirli mine as part of a recently signed agreement with commodities trading group Trafigura.

On Nov. 3, the London-listed miner, which operates mines in Azerbaijan, contracted to sell copper concentrates produced at Demirli in Karabakh to Trafigura, with the latter agreeing to a $25 million prepayment.

In the second half of November, Anglo Asian made its first sale to Trafigura — totalling 2,055 wet tonnes of copper concentrate containing 351 tonnes of metal. This is expected to generate $3.6 million in revenue before the government of Azerbaijan’s share, it said.

To facilitate the shipment, the company said it established a dedicated logistics centre for storage and delivery near Ganja, close to the main highway between Azerbaijan and Georgia. The location would allow Trafigura trucks to receive concentrates without obtaining permission to enter Karabakh, which has restricted access.

“We are continuing to make great progress at the Demirli mine, which was brought into production on time and on budget, and we have now completed our first copper concentrate sales to Trafigura,” Anglo Asian CEO Reza Vaziri said in a press release.

“We continue to invest in this relationship, which is strategically important for Anglo Asian, by establishing our new logistics centre, which will drive significant efficiencies.”

In July, the company announced the successful commissioning of the Demirli mine. According to its forecasts, the operation is expected to deliver 4,000 tonnes of copper concentrates this year, then rising to 15,000 tonnes from 2026 onwards.