Anglo Asian nets $5 million prepayment from Trafigura for copper sale

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Anglo Asian Mining announced on Tuesday it has entered into a prepayment agreement with commodity trader Trafigura for its copper concentrate production. The deal is valued at $5 million.

Under the agreement with Trafigura, Anglo’s Azerbaijan-based subsidiary will receive $3 million immediately and a further $2 million upon resumption of flotation processing. The advance payments will be settled by delivering copper concentrates to Trafigura.

 

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