AzerGold discovers two gold deposits, launches four mines in decade

AzerGold CJSC has significantly expanded its production and revenue capacity over the past 10 years through the discovery of two new gold deposits, commissioning of four gold mines and one regional industrial complex, and development of new areas of activity, Chairman Zakir Ibrahimov said.

According to Report, Ibrahimov made the remarks at a press conference today.

He said the company's operations had generated 2.2 billion manats ($1.29 billion) for Azerbaijan's economy and 316.3 million manats ($186.1 million) in tax payments to the state budget through August this year.

Ibrahimov said these results reflected AzerGold's contribution to the development of the non-oil industry, expansion of export potential and growth of state revenues.

He added that the experience accumulated over the past decade had created a foundation for implementing the State Program and further expanding Azerbaijan's modern mining industry.