Azerbaijan increased gold production by 19%

Last year silver mining declined, but copper increased

Baku. 14 January. REPORT.AZ/ In 2015, the British company Anglo Asian Mining Plc. has produced 72,032 ounces of gold on Gadabay field in Azerbaijan. Report informs referreing to the information given by the company.

In the past, the field produced 19% more gold than in 2014 year.

In the last quarter of 2015, volume of production from the field made 17,930 ounces. In 2015, sold 63,924 ounces of gold, the average price of an ounce was 1161 US dollar.

In the last quarter of 2015, 15,759 ounces has sold at an average price of $1 108/oz.

In 2015, the field also produced 28,626 ounces of silver (8% less than in 2014), 969 tons of copper (24% more than in 2014).

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

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