By Abdul Kerimkhanov
Azerbaijan earned as many as $32.5 million by exporting 775.35 kg of gold in January-March 2019.
In the same period last year, the export of gold from Azerbaijan made up 726.05 kg worth $30.9 million. Thus, the export of gold in quantitative terms increased by 6.8 percent and the revenue went up by 5.3 percent.
Gold production in Azerbaijan totaled 1,074 kg in January-March 2019. According to forecasts, the production will be at 3,175 kg in 2019, which would be 0.7 percent higher than in 2018.
In 2018, Azerbaijan exported 2,904 kg of gold to the world markets and earned $118.4 million.
Gold mining in Azerbaijan is currently carried out by two companies. Azerbaijan signed a contract for the development of six deposits on August 21, 1997. The country’s share in the contract is 51 percent, while the share of Anglo Asian Mining PLC is 49 percent. It is planned to extract 400 tons of gold from these fields, according to the contract.
The extraction of the first gold began from the Gadabay deposit in 2009, and silver mining started in 2010. Gold mining from the Gosha field began in the third quarter of 2013. The Gadir gold mine was put into operation in the summer of 2015, and the Ugur mine - in September 2017.
AzerGold CJSC was established in accordance with the decree of the President of Azerbaijan Ilham Aliyev dated February 11, 2015.
The main objective of the company is the study, research, exploration, management, as well as extraction, processing and sale of precious and non-ferrous metal ore deposits, implementation of new technologies in this field, modernization and efficient use of material and technical base, and implementation of other activities related to the development of the industry.
The company is engaged in the study, research, exploration, development and management of the gold-bearing and iron-ore areas of Garadagh, Chovdar, Goydag, Daghkesaman, Kohnamadan sites and the Kurekchay field.
Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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