Azerbaijan increased gold production by 52%

Volume of silver production reduced

Baku. 16 April. REPORT.AZ/ In January-March of this year gold production amounted to 534.6 kg in Azerbaijan, which is 52.0% more than the same period of last year.

Report informs referring to the State Statistics Committee, decline in silver mining observed in the reporting period. Thus, in comparison with same period of last year, production decreased by 84.6% and made 18.6 kg.

In Azerbaijan on an annualized basis, gold mining increased by 15.6% and was 1 872.5 kg in 2014.

In Azerbaijan, the gold and silver mined in the framework of the contract such as PSA (production sharing), signed on 21 August 1997. The Treaty provides for the development of six fields: in Nakhchivan - 1 Gedebey - 2, Kalbajar and Zangilan, which are currently under Armenian occupation - 3. The contract Azerbaijan's share 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. 

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