Azerbaijan’s AzerGold increases gold & silver production

Economy Materials 18 July 2019 15:11 (UTC +04:00)

Baku, Azerbaijan, July 18

By Kamala Mammadli - Trend:

In January-June 2019, 23,710 ounces of gold and 43,904 ounces of silver were extracted by AzerGold CJSC at Chovdar deposit in Azerbaijan, which is by 21 and 33 percent respectively more than in the same period last year, a source in the company told Trend.

Since the beginning of the development of the Chovdar deposit until June 30, 2019, AzerGold CJSC extracted 103,382 ounces of gold and 173,180 ounces of silver.

Last year, the company, at the expense of geological exploration, conducted the the re-assessment of reserves of non-ferrous and precious metals in the deposits and areas owned by AzerGold. Compared to 2016, the estimated reserves increased by 20 times to approximately 4 million ounces in gold equivalent.

The source noted that this year, 23,000 ounces of gold were exported out of the planned export of 55,000 ounces.

AzerGold has planned drilling in the volume of 40,000 meters at the Filizchay, Agyokhush, Tulallar and Chovdar deposits this year, the company said.

AzerGold has been operating at the Chovdar field since the second half of 2016.