AzerGold reveals plans for extraction and export of precious metals

AzerGold CJSC expects to produce 55,200 ounces of gold and 86,600 ounces of silver in 2021, Report informs, citing the company.

AzerGold aims to sell 55,000 ounces of gold and 93,000 ounces of silver on world exchanges.

Compared to 2020, the forecast for gold and silver production has decreased by 8% and 28.43%, respectively.

The volume of gold and silver supplied by the company to the world markets increased in 2020. AzerGold exported 59,400 ounces of gold and 119,400 ounces of silver. It is, respectively, 7.4% less and 22.1% more than this year's forecast. The company earned AZN 186.5 million (over $109 million) to the country's economy from the sale of precious metals.

AzerGold was established in 2016 under President Ilham Aliyev's order dated February 11, 2015. Its authorized capital is AZN 37 million (over $21.77 million).