Export revenues of Azerbaijan-based gold-silver company drop by 10%

In 2021, the Azerbaijan International Mining Company Ltd., engaged in the production of gold, silver, and copper in Azerbaijan, exported products worth $106.9 million, $11.2 million or 9.5% less than in 2020, Report informs, citing the January issue of the Export Review of the Center for Economic Reforms Analysis and Communication.

Azerbaijan International Mining Company Ltd is a subsidiary of Anglo-Asian Mining Plc, which engages in production under the PSA (Production Sharing Agreement) type agreement signed in Azerbaijan on August 21, 1997. Asian Mining Plc.'s share is 49%. The first gold production (at the Gadabay deposit) began in 2009.

Gadabay is an open-pit mine with integrated mines. The company is also engaged in production at the Qosha underground mine, located 50 km from the Gadir and Gadabay fields.

The discovery of the Ugur field was announced in October 2016. The field is located 3 km northwest of the Anglo-Asian Mining Leaching Plant.