New gold, platinum fields found in Azerbaijan
BAKU – New gold and platinum fields have been discovered in Azerbaijan, Minister of Ecology and Natural Resources Huseyngulu Baghirov said Saturday.
"As a result of the work carried out by our geologists, a rich gold field was discovered," Baghirov told reporters. "According to the latest data, deposits of platinum and other precious metals have also been reported in Shamkir. These riches will bring Azerbaijan millions in revenues in the future."
According to Azerbaijan’s State Statistics Committee, the country produced 1.7 tons of gold and 1 ton of silver in January-November.
Anglo Asian Mining PLC, which signed a production sharing agreement (PSA) with the Azerbaijani government in 1997, is the only producer of gold in the country.
The PSA area covers six deposits, located in the Nakhchivan Autonomous Republic, the Tovuz and Gadabay regions as well as three regions that are currently under Armenian occupation. The fields hold about 400 tons of gold, 2,500 tons of silver and 1.5 million tons of copper. First gold and silver were produced at the Gadabay mine in May 2009. In total, the field is to produce over 300,000 ounces of gold by 2015.
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