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Gold to be produced on one more field in Azerbaijan

Business Materials 22 September 2011 09:10
The Anglo Asian Mining Plc company, only gold producer in Azerbaijan, plans to start gold production on the Gosha field in second half of 2012, the company said in a statement published on the official website of the company on Wednesday.
Gold to be produced on one more field in Azerbaijan

Azerbaijan, Baku, Sept. 21 /Trend, N.Ismayilova/

The Anglo Asian Mining Plc company, only gold producer in Azerbaijan, plans to start gold production on the Gosha field in second half of 2012, the company said in a statement published on the official website of the company on Wednesday.

Previously, the company submitted to government a document confirming the discovery of gold reserves on this field, which was adopted by the Azerbaijani side.

According to information, government's approval of the program for the development and production on the field is expected in October 2011.

Anglo Asian Mining Plc is the only gold producer in Azerbaijan. The company owns the rights to develop six fields in south-west Azerbaijan at Gedabey, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu. The concession is based on PSA agreements signed with the Azerbaijani government in August 1997.

According to the contract, production plans to yield 400 tons of gold, 2,500 tons of silver, and 1.5 million tons of copper. Gold and silver were first discovered through mining in Gedabek in May 2009.

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