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    Azerbaijan increases gold production by 21%

    Volume of silver production reduced annually by 54%

    Baku. 16 December. REPORT.AZ/ Azerbaijan produced 2 042.8 kg of gold in January-November, 2015 .

    Report informs referring to the State Statistical Committee, it is by 21.3% more compared to the same period last year. As of December 1, 2015, stocks of finished products amounted to 56.4 kg.

    According to the official statistics, over 11 months of 2015 the volume of silver production declined at an annualized rate of 54.4% and made 105.7 kg.

    Gold mining in Azerbaijan on an annualized basis increased by 15.6% and in 2014 amounted to 1 872.5 kg.

    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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