Gold production increased by 34% in Azerbaijan

Silver production declined

Baku. 12 June. REPORT.AZ/ In Azerbaijan in January-April of this year, gold production increased by 34.4% in comparison with the same period of last year and amounted to 902,9 kg. 

Report informs referring to the State Statistical Committee, in the reporting period, a decline in production of silver observed. Thus, production decreased by 79,8% and amounted to 34,9 kg. The volume of production in the mining industry increased by 2.5% compared to the January-May previous year and amounted to 6.9 million manats.

In Azerbaijan on an annualized basis, gold mining increased by 15.6% and was 1 872.5 kg in 2014.

In Azerbaijan, the gold and silver mined in the framework of the contract such as PSA (production sharing), signed on 21 August 1997. The Treaty provides for the development of six fields: in Nakhchivan - 1 Gedebey - 2, Kalbajar and Zangilan, which are currently under Armenian occupation - 3. The contract Azerbaijan's share is 51%, the British company "Anglo Asian Mining Plc." - 49%. The first gold production in Gadabay field began in 2009.

In 2014, Azerbaijan has discovered several gold deposits. At present calculations carried out at these fields.

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