Anglo Asian Mining Announcement

17 December 2012
Anglo Asian Mining Announcement

Copper sales contract signed with Glencore International

Anglo Asian Mining plc, the AIM listed gold producer, is pleased to announce that it has signed a contract with Glencore International plc ('Glencore') for the sale of 2,500 wet metric tonnes ('WMT') and 550 dry metric tonnes of copper concentrate, when available, from its Gedabek gold/copper/silver mine in western Azerbaijan ('Gedabek').

The Company produces copper in the form of a precipitated copper sulphide concentrate by-product, which also contains silver with commercial value and a small amount of gold, from its Sulphidisation, Acidification, Recycling, and Thickening ('SART') plant at Gedabek. 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 1,500 WMT has been sold.

Anglo Asian CEO Reza Vaziri said, "We are delighted to have secured this sales contract with Glencore, which will see our copper concentrate product adding to our bottom line and in turn increasing our profitability. From here we hope to arrange further sales contracts for our copper concentrate stockpiles, which now total 2,900 WMT, and we also look forward to reporting our FY 2012 gold and copper production figures in the New Year, where we are on track to produce 49-51,000 ounces of gold and 600 tonnes of copper."