AzerGold earns over 755M AZN from gold, silver sales

Last year, AzerGold sold 60,000 ounces of gold and 133,000 ounces of silver in international and local retail markets, and earned 188.3 million manats, Chairman of the AzerGold Board Zakir Ibrahimov said at a press conference on the results of 2021 and the tasks ahead, Report informs.

According to Ibrahimov, despite the decline in the average selling price of gold in 2021 (compared to 2020), revenues from total sales of the precious metal increased by 760,000 manats or 0.4%:

“Thus, as a result of the sale of 285,000 ounces of gold and 560,000 ounces of silver during the company’s five years of operation, more than 755 million manats were attracted to the Azerbaijani economy.”

Ibrahimov said AzerGold sold more than 3,405 ounces of ingots and coins to the local market in 2019-2021:

“Seventy-eight percent of it was sold in 2021. Ninety-seven percent of the valuables sold last year were gold and 3% were silver products, and more than 8.7 million manats were earned from these sales. It is an increase of 377% compared to 2020.”

Ibrahimov noted that a sharp increase in sales was observed, especially after the opening of the Sales Center: “Last year, the Sales and Exchange Center sold 2,366 ounces of products. This is 89% of the products sold by the company in the domestic market during the year.”