REG - Anglo Asian Mining - Demirli copper concentrate sale & record ore mined

Anglo Asian MiningAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251204:nRSD1503Ka&default-theme=true

RNS Number : 1503K  Anglo Asian Mining PLC  04 December 2025

4 December 2025

 

Commencement of copper concentrate sales and record ore mined in the month at
Demirli

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM-listed gold,
copper and silver producer focused in Azerbaijan, is pleased to announce it
has commenced copper concentrate sales from its new Demirli mine.

As announced on 3 November 2025, the Company has contracted to sell copper
concentrate produced at Demirli to Trafigura Pte Ltd ("Trafigura"). From 17
November 2025 to 30 November 2025, 2,055 wet tonnes of copper concentrate
containing 351 tonnes of copper metal was sold to Trafigura, generating
provisional gross sales revenue (before the Government of Azerbaijan's share)
of $3.6 million.

A dedicated logistics centre for storage and delivery of concentrate has been
established at Dalimammadli near Ganja, close to the main highway between
Azerbaijan and Georgia. The logistics centre comprises 3,500 square metres of
fully enclosed storage, and 1,500 square metres of roofed storage, both of
which are contained within a seven-hectare fenced area. Company trucks
transport the concentrate from the Demirli mine to the logistics centre.
Trafigura trucks are therefore not required to obtain permission to enter
Karabakh which currently has restricted access. The establishment of this
logistics centre demonstrates the close relationship between Trafigura and the
Company and facilitates very efficient and faster copper concentrate sales.

In line with its growth strategy to increase its production profile, in
November 2025, the Company mined a record volume of ore at Demirli. Nearly two
million tonnes of rock were mined as follows:

 Rock type          Tonnes mined  Copper grade  Purpose/destination

                    (tonnes)      (%)
 FLT ore            195,384       0.54          Flotation feed
 Oxide ore          269,013       0.22          Stockpiled
 FLT low grade ore  6,115         0.13          Stockpiled
 Waste*             1,480,589     N/A           Used to buttress the wall of the tailings dam
 Total rock mined   1,951,101     N/A

*mainly material from push back of the West Pit

On 27 November, a record 81,000 tonnes of rock was mined and hauled in one
day.

Reza Vaziri, CEO of Anglo Asian, commented:

"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. 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.

 

"With Demirli delivering in accordance with our expectations, and in line with
our strategy to grow production, we are also delighted to have recently
achieved record daily and monthly quantities of ore mined at Demirli"

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No
596/2014, which was incorporated into UK law by the European
Union (Withdrawal) Act 2018, until the release of this announcement.

For further information please contact:

 Anglo Asian Mining plc
 Reza Vaziri, Chief Executive Officer                            Tel: +994 12 596 3350
 Bill Morgan, Chief Financial Officer                            Tel: +994 502 910 400
 Stephen Westhead, Vice President                                Tel: +994 502 916 894
 Amir Vaziri, Chief Business Development Officer                 Tel: +1 (301) 332 9938

 SP Angel Corporate Finance LLP (Nominated Adviser and Broker)   Tel: +44 (0) 20 3470 0470

 Ewan Leggat

 Adam Cowl

 Hudson Sandler (Financial PR)                                   Tel: +44 (0) 20 7796 4133

 Charlie Jack

 Harry Griffiths

 

About Anglo Asian Mining

Anglo Asian Mining plc (AIM:AAZ) is a copper and gold producer with a
high-quality portfolio of production and exploration assets in Azerbaijan. The
Company produced 377 tonnes of copper and 15,073 ounces of gold for the year
ended 31 December 2024. In the nine months to 30 September 2025, the Company
produced 3,475 tonnes of copper and 18,912 ounces of gold.

 

The Company's strategic plan for growth shows a clearly defined path for the
Company to transition to a multi-asset, mid-tier, copper and gold producer by
2030, by which time copper will be the principal product of the Company, with
forecast annual production of around 50,000 to 55,000 tonnes of copper. It
plans to achieve this growth by bringing into production three new mines
during the period 2027 to 2030 at Xarxar, Garadag and Zafar, in addition to
the newly opened Gilar and Demirli mines. Production commenced at the Gilar
mine in May 2025 and Demirli in July 2025. https://www.angloasianmining.com/
(https://www.angloasianmining.com/)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PFUUPGGWPUPAGMW



            Copyright 2019 Regulatory News Service, all rights reserved