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Revenues of Azerbaijan's AzerGold grow in 1H2021

Economy Materials 2 August 2021 15:29 (UTC +04:00)
Revenues of Azerbaijan's AzerGold grow in 1H2021

BAKU, Azerbaijan, Aug.2

By Sadraddin Aghjayev – Trend:

Revenues of Azerbaijan’s AzerGold CJSC from the export of precious metals in the first six months of 2021 increased, Trend reports referring to the CJSC.

According to the company, this indicator amounted to $46.9 million, up by 6.8 percent compared to the period from January through June 2020.

In the first half of 2021, AzerGold exported 25,400 ounces of gold and over 56,000 ounces of silver.

The company's payments to the state budget made up 18.1 million manat ($10.6 million), of which 16.6 million manat ($9.7 million) fell on tax deductions and 1.5 million manat ($880,000) on social payments.

Since the beginning of its activity, the company has exported 254,500 ounces of gold and 456,300 ounces of silver. The total income from the export of precious metals exceeded 657 million manat ($386.4 million).

"For the implementation of our projects, we attracted 47 million manat ($27.6 million) to the CJSC’s budget. At the same time, the dependence of projects for the development of gold deposits on the state budget has been removed. The total deductions since the beginning of activities amounted to about 59 million manat ($34.7 million)," the company said.

In order to ensure sustainable development of the mining industry in Azerbaijan, a development strategy for AzerGold CJSC for the period up to 2035 has been elaborated.

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