Azerbaijan triples annually gold extraction

Baku. 6 November. REPORT.AZ/ The gold and silver production in Azerbaijan has increased. In January - October, 5 107,5 kg of gold were extracted in the country which is 3.2 fold greater than the corresponding period last year. The silver output increased by 42.2% ion annual comparison and totaled 433,5 kg. 

Report informs referring to State Statistics Committee (SSC).

Currently, the gold mining in Azerbaijan is carried out in Dashkasan by AzerGold CJSC and Gadabay district by British Anglo-Asian Mining company.

Anglo-Asian Mining company is involved in mining in accordance with PSA (Production Sharing Agreement) signed on August 21, 1997.

Agreement envisages the exploration of six gold deposits – one in Nakhchivan, two in Gadabay, and three deposits located in Kalbajar and Zangilan, remaining  still under Armenian occupation. Azerbaijan owns 51%, British company Anglo-Asian Mining Plc - 49% of shares according to agreement.