Export revenues of Azerbaijan International Mining Company down 10%

The Azerbaijan International Mining Company Ltd., a wholly-owned subsidiary of Anglo Asian Mining PLC and a gold, silver, and copper producer in Azerbaijan, exported products worth $76.4 million in January-September 2022, down $8.5 million or 10% from the previous year, Report informs, citing the Center for Economic Reforms Analysis and Communication (CERAC).

Anglo-Asian Mining is engaged in production in Azerbaijan under the PSA (Production Sharing Agreement) signed on August 21, 1997. Azerbaijan's share in the contract is 51%, while the share of Anglo-Asian Mining Plc makes up 49%. The first gold production (from the Gedabek deposit) began in 2009. The Gedabek deposit is made up of integrated open-pit mines. The company is also engaged in production at the Gosha underground mine, 50 km off Gadir and Gadabay deposits, as well as the newly discovered Ugur open pit.