Azerbaijan’s share accounts for 15% of gold produced in country in 2015
Baku, Azerbaijan, March 9
By Azad Hasanli - Trend:
In 2015, Azerbaijan's share accounted for 293.8 kilograms of gold, 117 kilograms of silver and 124 tons of copper produced in the country, according to the report on the activities of the cabinet of ministers of Azerbaijan for 2015.
The report is expected to be discussed in the parliament (Milli Majlis) of the country March 15.
In 2015, some 2.042 kilograms of gold, 811.5 kilograms of silver and 969 tons of copper were produced in the country, according to the Anglo-Asian Mining company, gold producer in Azerbaijan. Thus, the government's share accounted for 14.4 percent of gold, 14.4 percent of silver and 12.8 percent of copper produced in Azerbaijan.
Based on the production sharing agreement signed with Azerbaijani government in August 1997, Anglo Asian Mining PLC has the right to develop six fields in south-west of Azerbaijan: 'Gadabay', 'Ordubad', 'Gosha Bulag', 'Gizil Bulag', 'Vejnali' and 'Soyutlu'.
AAM and Swiss Industrial Minerals SA signed an agreement in May 2014 on selling cooper concentrate produced at Gadabay field in Azerbaijan.
The contract signed for the period of three years envisages the purchase of copper concentrate by the Swiss company.
Industrial Minerals will purchase both dry and wet copper concentrate.
The gold produced at the fields is sent to Switzerland for purification. The ingots are delivered to Azerbaijan and stored in the government's account.