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Export revenues of AzerGold exceed $588m

1 August 2023 13:15 (UTC+04:00)
Export revenues of AzerGold exceed $588m

AzerGold CJSC, one of the main exporting state companies representing the non-oil and gas sector of Azerbaijan, attracted 1 billion 716 thousand 495 manats ($589m) to Azerbaijan's economy as a result of the sale of gold and silver on the international market, Azernews reports, citing the company.

Thus, as a result of the 79th export operation performed by the company, 3.7 thousand ounces of gold and 11.4 thousand ounces of silver were sold in the international market and AZN12.8m ($7,5m) of sales income was obtained. The volume of gold exported by AzerGold during the entire period of activity reached 361.9 thousand ounces, and the volume of silver reached 723.5 thousand ounces.

In addition to export operations, the total sales income of the company, which continues to sell in the form of retail and raw materials in the domestic market for the development of the local jewelry market, exceeded AZN1,042bn ($612.94m). During the last period, 11.5 thousand ounces of gold and 77 thousand ounces of silver were sold in the domestic market.

It is worth noting that in 2017, AzerGold CJSC, which started with the exploitation of only 1 mine located in Dashkasan region - the Chovdar gold field, in the past 7 years, has started to operate 3 more gold mines located on the flanks of the Chovdar field, in the territory of Dashkasan and Goygol districts. In 2021, the exploitation works in the Agyokush-1 gold mine was completed, and the production process continued in the Chovdar, Marah, and Tulalar mines. At the same time, AzerGold CJSC continues the exploration and research work at various stages in the existing gold, copper, and other non-ferrous metal fields in Nakhchivan Autonomous Republic, Balaken, and Kalbajar regions.

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