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Azerbaijan increases gold production - AzerGold

24.02.2020,13:14


February 24, Fineko/abc.az. AzerGold produced 55,200 ounces of gold and 103,000 ounces of silver last year.

ABC.AZ reports that the statement was made by AzerGold’s chairman Zakir Ibragimov at a press conference devoted to the results of 2019 and the upcoming tasks.

Ibragimov noted that compared to 2018, last year’s growth in production of gold made up 21.3% and silver 33.2%. According to the company’s head, although it was planned to produce 50,000 ounces of gold in 2019, at the end of the year the gold production reached 55,200 ounces of gold with an increase of 10.4%:

"Similarly, during the year it is planned to produce 87,400 ounces of silver, while the factual production of silver increased by 17.9% and reached 103,000 ounces. I’d like to note that the production figures for 2019 are the highest recorded during the period of the Chovdar field. Our export operations for 2019 were also very successful. In 2019 AzerGold sold 59,200 ounces of gold and 110,900 ounces of silver. Revenues from the sale of gold amounted to AZN 141.9 million, silver - more than AZN 3 million, and as a whole the country's economy received AZN 145 million. If we compare the total revenue with last year's figures, the sale of gold recorded an increase of 33% and silver 47%. This year AzerGold sets a goal to bring sales of gold and silver up to 55,200 ounces of gold and 103,700 ounces of silver."