Azerbaijan, Baku, Dec. 18 / Trend A. Akhundov /
Anglo Asian Mining plc., a gold producer in Azerbaijan, has signed a contract with Glencore International plc., for the sale of 2500 wet metric tons ('WMT') and 550 dry metric tons of copper concentrate ('DMT') from its Gedabek gold, copper and silver mine in western Azerbaijan, the company said on Monday.
Under the terms of the sales agreement, which is due to commence before the end of the current year, Glencore will purchase 250 WMT per month of copper concentrate product. There is also an option for the company to stop selling copper concentrate product to Glencore after 1500 WMT has been sold.
Anglo-Asian Mining has copper concentrate stockpiles which now total 2900 WMT.
The Anglo Asian Mining Company has the rights to develop six deposits in the south-west of Azerbaijan - Gedabek, Ordubad, Gosha Bulag, Gyzyl Bulag, Vezhnali and Soyutlu based on a PSA type agreement signed in August 1997 with the Azerbaijani government.