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Gold production increased by 39% in Azerbaijan

Silver production declined sharply

Baku. 16 May. REPORT.AZ/ In Azerbaijan in January-April of this year, gold production increased by 39.1% in comparison with the same period of last year and amounted to 697.9 kg. Report informs referring to the State Statistics Committee, in the reporting period, a decline in production of silver observed. Thus, production decreased by 82.9% and amounted to 25.3 kg.

Gold mining in Azerbaijan on an annualized basis increased by 15.6% and amounted to 1 872.5 kg last year.

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

In 2014, Azerbaijan has discovered several gold deposits. Currently, these fields are carried out computational work.

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