AzerGold earns about $ 21 mln from sale of second batch of gold and silver

Baku. 29 June. REPORT.AZ/ “AzerGold” CJSC sent 72 silver and gold alloy produced in Chovdar ore field to Switzerland's Argor-Heraeus company for the purification and sale.

Report was told in the company, refined gold and silver were sold at the international stock exchange and brought millions of dollars to the state-owned companies.

Total weight of exported alloys is 1283 kilograms, of which 16,300 ounces are gold and 22,2 thousand ounces silver.

The company earned 20,905 mln USD (35.6 million manat) from the sale.

Notably, AzerGold CJSC carried out first gold and silver export in May 2017, selling 66 gold-silver alloys, 16 thousand ounces of which were gold, 24,000 ounces - silver.

The first export batch brought income in the amount of 20,118 mln USD (34.200 mln AZN).

By the end of 2017, it is planned to increase the volume of gold and silver mined for export at Chovdar ore field to 160,000 ounces (70,000 ounces of gold, 90,000 ounces of silver). According to estimates, taking into account the current prices for precious metals, the profit from the sale of this volume of gold and silver will be 85 mln USD (approximately 145 mln AZN).