Azerbaijan, Baku, July 13 /Trend A.Akhundov/
Anglo-Asian Mining plc has produced 21,641 oz of gold in the first half of 2012. They gold was produced at the Gadabay gold and copper mine, the company said in a report posted on its website on Saturday. The gold production amounted to 11,716 oz in the second quarter and 9925 oz - in the first.
"Despite the decline in production during the first quarter due to an unusually cold and long winter, the company is confident that it will be able compensates for it and reach the goals of 54,000 ounces for the current year during the remainder of the year," CEO Reza Vaziri said.
Anglo-Asian Mining plc has produced 4504 ounces of silver in the second quarter and 12,174 ounces in the first half of the year.
"The company sold 9883 ounces of gold at an average of $1609 per ounce during the second quarter, 18,135 ounces at a price of $1644 per ounce during the half of the year," a statement said.
The Anglo Asian Mining Company has the rights to develop six deposits in the south-west of Azerbaijan - Gedabek, Ordubad, Gosha Bulag, Gyzyl Bulag, Vezhnali and Soyutlu based on a PSA type agreement signed in August 1997 with Azerbaijani government. Under the contract,
production of about 400 tons of gold, 2500 tons of silver and 1.5 million tons of copper is planned at the deposit.
Gold produced at the deposits is sent for refinement to Switzerland. Bullions are brought to Azerbaijan and stored in the government's vaults. The first gold and silver was produced at the Gedabek deposit in May 2009.