Anglo Asian Mining, gold producer in Azerbaijan, has entered into a three-year contract with Industrial Minerals, a Switzerland-based trader and miner, to sell its copper concentrate product from the Gedabek gold, copper, silver mine in western Azerbaijan.

The company’s sulphidization, acidification, recycling, and thickening (SART) plant at Gedabek produces copper in the form of a precipitated copper sulphide concentrate by-product which contains silver and a small amount of gold.

As per the deal, Industrial Minerals will buy both dry and wet copper concentrate.

Anglo Asian currently has 75 tons of dry copper concentrate and 550 tons of wet copper concentrate stockpiles ready to sell.

Anglo Asian CEO Reza Vaziri said, "With record copper sales from Gedabek totalling US$6.6 million in 2013, we are well placed to continue this trend in 2014 and I look forward to updating shareholders on the copper production and sales in the coming months, as well as on gold production from Gedabek."

The company said that its second gold project, Gosha, has started first phase production in Azerbaijan.

For the fiscal 2014, Anglo Asian expects gold production of between 62,000oz and 67,000oz.