Gold production in Azerbaijan to grow
Azerbaijan, Baku, July 12/ Trend, E. Aliyev /
Anglo-Asian Mining plc (ААМ) in Azerbaijan has processed 8,912 ounces of gold in the second half of 2013 at the "Gedabey" mining complex, according to the report published on the website of the company on Tuesday.
According to the report, 3,035 ounces of this gold was produced at the leaching vat plant which opened in June .
The gold output in the second half of the year has increased 3.8% in comparison to the first half of 2013, report says.
ААМ produced 8,518 ounces of gold in January-March of 2013. The sale of 5,505 ounces of gold at an average price of 1,438 dollars per ounce was realized in January-June of 2013, according to the company.
The decrease in sales in comparison with the first half is explained by delays related to the launch of the leaching vats plant. The deals on postponed sales were completed in the first week of July, and the volume of sales were brought to 5,620 ounces this way, the company says.
The prognoses for gold production for the end of 2013 remain unchanged. The company is intending to implement the anticipated volume at a level of 60 thousand ounces, which is 20% higher than the volume of production in 2012.
The company produced 50,215 ounces of gold, 20,133 ounces of silver and 502 tons of copper in 2012, in "Gedabey" field. The
Anglo Asian Mining has the right to explore and produce mineral resources in an area of about 2,000 square kilometers, consisting of three contract areas ("Gosh," "Gedabey" and "Ordubad") under the terms of the Production Sharing Agreement with the Government of Azerbaijan (PSA). The resource base of the company exceeds 36 tons of gold, 292 tons of silver and 94,000 tons of copper. The largest field developed by Anglo Asian Mining, is the Gadabay Complex Mine. The first gold and silver were mined in May 2009, and the production of copper concentrate began in 2010.