Azerbaijan increases gold production

Baku. 17 February. REPORT.AZ/ Gold mining in Azerbaijan on an annualized basis increased by 70.8% and in January this year amounted to 171.7 kg. Report informs referring to the State Statistical Committee, in the reporting year decline in silver mining was observed. Thus, production decreased by 75% and amounted to 6.5 kg.

According to statistics, in general, mining ores and concentrates of precious metals increased by 40.9% compared to the same period last year and amounted to 178.2 kg.

Gold production in Azerbaijan increased at an annual rate of 15.6% and in 2014 amounted to 1 872.5 kg.

In Azerbaijan, the gold and silver mined in the framework of the contract such as PSA (production sharing), signed on August 21, 1997.The Treaty provides for the development of six fields: in Nakhchivan - 1 Gedebey - 2, Kalbajar and Zangilan- 3, which are currently under Armenian occupation. Azerbaijan's share according to the contract is 51%, the British company Anglo Asian Mining Plc - 49%.The first gold production in Gadabay field began in 2009.

In 2014, Azerbaijan has discovered several gold deposits. At present calculations carried out at these fields.