- Anglo Asian Mining has signed a three year contract with Industrial Minerals SA, a Geneva based integrated trading, mining and logistics group.

Industrial Minerals will become Anglo Asian's exclusive partner for sales of its copper concentrate product from the Gedabek gold, copper, silver mine in western Azerbaijan.

Anglo Asian chief executive Reza Vaziri said: "We are delighted to secure this exclusive sales contract with Industrial Minerals, which will see our copper concentrate product adding to our bottom line and in turn increasing our profitability. With record copper sales from Gedabek totalling US$6.6m 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.

"Developments at our second gold project Gosha, which has started first phase gold production in Azerbaijan, will also materialise. We now have two production projects in the country, which together sees Anglo Asian's gold forecast for FY2014 between 62,000oz Au and 67,000oz Au."

At 8:02am: [LON:AAZ] Anglo Asian Mining PLC share price was +0.75p at 17p

Story provided by