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Azerbaijan Produces 673 kg of Gold This Year

Azerbaijan produced 153 kg of gold in May, a sharp drop on April's record figure of 200 kg, but still higher than in previous months.

Total gold production in January to May was 673 kg, according to figures from the State Statistical Committee.

Gold extraction in January was 98 kg, in February 97 kg, in March 125 kg, in April 200 kg and in May 153 kg.

The Azerbaijani International Mining Company (AMIC) has been carrying out industrial-scale gold mining since July 2009. The gold is mined at the Gadabay field in western Azerbaijan.

AMIC was created by Anglo-Asian Mining PLC, which was in turn founded by R.V. Investment Group Services.

AMIC is developing six gold fields in Azerbaijan, including Gadabay. The contract envisages production of 400 tonnes of gold, 2,500 tonnes of silver and 1,500 tonnes of copper from these fields.

The Gadabay deposit is estimated to hold some 22 tonnes of gold, 192 tonnes of silver and 37,000 tonnes of copper with additional reserves of 14 tonnes of gold, 123 tonnes of silver and 22,000 tonnes of copper.

Source: News.az


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