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Pin to quick picksAnglo Asian Share News (AAZ)

Share Price Information for Anglo Asian (AAZ)

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Share Price: 56.50
Bid: 54.00
Ask: 59.00
Change: 2.00 (3.51%)
Spread: 5.00 (9.259%)
Open: 57.00
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Low: 59.00
Prev. Close: 57.00
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x-Anglo Asian's new contract leaves Glencore without Azeri copper

Wed, 07th May 2014 12:27

TBILISI, May 7 (Reuters) - Industrial Mining SA, aGeneva-based group, has become an exclusive trader of a copperconcentrate produced in Azerbaijan, replacing Swiss tradingmajor Glencore, the producer company said.

Azerbaijan's main gold and copper producer, London-listedAnglo Asian Mining Plc, said on Wednesday it had signeda three-year contract with Industrial Minerals SA, an integratedtrading, mining and logistics group, to become its exclusivepartner for sales of copper concentrate produced at Azerbaijan'smain mine, Gedabek.

"With record copper sales from Gedabek totalling $6.6million in 2013, we are well placed to continue this trend in2014," Anglo Asian Chief Executive Officer Reza Vaziri said in astatement.

He did no specify the cost of a deal or reasons for securinga new sales contract.

Anglo Asian produces copper in the form of a precipitatedcopper sulphide concentrate by-product, which also containssilver with commercial value and a small amount of gold.

The company said it had 75 tonnes of dry copper concentrateand 550 tonnes of wet copper concentrate stockpiles ready tosell and expected to exceed its target to produce 595 tonnes ofcopper in 2014.

Anglo Asian, which is controlled by R.V. Investment GroupServices, began production at Gedabek, 350 km west of thecapital Baku, in July 2009.

Metals are produced at Gedabek and other Azeri mines under aproduction venture with Anglo Asian, in which the governmentowns 49 percent. (Reporting by Margarita Antidze and Nailia Bagirova; Editing byLouise Heavens)

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20 Feb 2024 15:03

Anglo Asian unveils maiden Xarxar resource estimate

(Sharecast News) - Anglo Asian Mining announced a significant milestone on Tuesday, with the completion of its maiden JORC 2012 mineral resource estimate for the Xarxar copper deposit in Azerbaijan.

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20 Feb 2024 11:29

Anglo Asian Mining completes maiden JORC resource estimate for Xarxar

(Alliance News) - Anglo Asian Mining PLC on Tuesday said it completed its maiden JORC mineral resource estimate for its Xarxar copper deposit.

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16 Feb 2024 13:13

Anglo Asian gives up board seat on Libero board

(Sharecast News) - Azerbaijan-focussed gold, copper and silver producer Anglo Asian Mining announced the resignation of non-executive director Michael Sununu from the board of Libero Copper & Gold on Friday.

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16 Feb 2024 12:55

IN BRIEF: Anglo Asian loses director on Libero board as stake falls

Anglo Asian Mining PLC - Azerbaijan-focused copper, gold and silver producer - Non-Executive Director Michael Sununu resigns from the board of Libero Copper & Gold Corp, after Anglo Asian Mining's stake in Libero falls to 5.7%, lower than the 9.9% threshold that entitles the company to maintain a director on the board of Libero. Anglo Asian Mining says its holding in Libero has reduced as it has not participated in several recent rounds of financing.

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25 Jan 2024 11:51

IN BRIEF: Anglo Asian climbs amid copper resource discovery at Xarxar

Anglo Asian Mining PLC - Azerbaijan-focused copper, gold and silver producer - Confirms significant copper resource at Xarxar following drilling. Says drill results will form part of a forthcoming JORC mineral resource estimate for the Xarxar deposit. Further infill and extension drilling will be planned, along with a metallurgical testwork programme and geometallurgical modelling, Anglo Asian says, once the MRE is published. A mining trade-off study including a mine design and a production plan will also be prepared. Vice President Stephen Westhead says: "We are delighted to announce the findings of our recent drilling campaign at Xarxar, confirming internal estimates regarding the presence of significant quantities of copper at the deposit. This reaffirms the potential size of the mineral deposit that can be brought into production."

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19 Jan 2024 12:02

Anglo Asian commits to Global Industry Standard on Tailings Management

(Alliance News) - Anglo Asian Mining PLC on Friday said it will implement the Global Industry Standard on Tailings Management at its operations at Gedabek, Azerbaijan.

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15 Jan 2024 09:55

Anglo Asian Mining production drops amid temporary suspension

(Alliance News) - Anglo Asian Mining PLC on Monday said fourth quarter production was "significantly reduced" due to partially suspended operations, but said mining activity at Gedabek has resumed.

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8 Jan 2024 08:40

LONDON MARKET OPEN: Commodity-heavy FTSE 100 heads lower; Shell slips

(Alliance News) - The FTSE 100 kicked off the week on a downbeat note at Monday's market open, amid share price falls for commodity stocks.

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12 Dec 2023 10:42

Anglo Asian Mining expects Gilar site to begin production in mid-2024

(Alliance News) - Anglo Asian Mining PLC announced on Tuesday the purchase and delivery of Caterpillar Inc equipment to its Gedabeck mine site, where it expects production to commence in mid-2024.

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11 Dec 2023 17:54

TRADING UPDATES: Surface Transforms signs GBP13.2 million loan deal

(Alliance News) - (Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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7 Nov 2023 11:55

Anglo Asian shares soar as mining restarts after environmental audit

(Alliance News) - Anglo Asian Mining PLC on Tuesday said its full-year gold production target is unchanged, as it begins to restart operations after agreeing an environmental action plan with the Government of Azerbaijan.

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7 Nov 2023 10:44

AIM WINNERS & LOSERS: Naked Wines cuts outlook and CEO steps down

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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23 Oct 2023 13:56

Anglo Asian Mining identifies further mineralisation at Gilar deposit

(Alliance News) - Anglo Asian Mining PLC on Monday said further drill results at the Gilar deposit confirm an extension to the mineralisation reported by previous drilling.

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23 Oct 2023 10:17

Anglo Asian reports promising drill results from Gilar deposit

(Sharecast News) - Anglo Asian Mining reported promising drill results from the Gilar deposit in Azerbaijan on Monday, confirming an expansion of mineralisation compared to previous findings.

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16 Oct 2023 14:37

IN BRIEF: Anglo Asian says production hurt by suspension at Gedabek

Anglo Asian Mining PLC - Azerbaijan-focused gold, copper and silver producer - Produces 5,295 gold equivalent ounces in the third quarter of the year. In the nine months to September 30, produces 28,686 gold equivalent ounces. Net cash at September 30 of USD1.6 million, down 83% from USD9.6 million at June 30 as a result of a final dividend payment of USD4.6 million for 2022.

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