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Gold production hits record rates in Azerbaijan

Business Materials 12 September 2013 22:18 (UTC +04:00)

Azerbaijan, Baku, Sept. 12 /Trend A.Akhundov/

Gold producer in Azerbaijan - Anglo-Asian Mining PLC has recorded its highest monthly gold production, which is related to transition to a new method of obtaining gold from the ore, namely to agitated tank leaching, the company's report released on Thursday said.

According to the report, in summer 2013 the company commissioned a plant which will process the high-grade ore and reserves unsuitable for heap leach method, which is less effective.

The technology of agitated tank leaching allows extracting over 90 percent of gold from the ore whereas with the heap leach this figures amount to 70 percent.

"In August the company produced 7600 ounces of gold, which is the best monthly figure since early 2009," the report said.

At the moment the company is extracting gold only from Gadabay ore deposit. With the launching of the new enterprise the company plans to increase gold production to 60,000 ounces in 2013, which is 20 percent more than the figures of 2012.

Taking into consideration that Anglo-Asian Mining will start a regular production at the Gosha deposit till late 2013, then by the end of the next year the company plans to increase the volumes to 80,000-90,000 ounces.

According to terms of the production sharing agreement with Azerbaijani government, Anglo-Asian Mining has the right to explore and produce mineral resources on a territory of about 2,000 square kilometers, which includes three contract areas (Gosha, Gadabay and Ordubad).

The company's resource base exceeds 36 tons of gold, 292 tons of silver and 94,000 tons of copper. Gadabay complex ore is the largest among the those developed by Anglo-Asian Mining.

The first gold and silver was produced at this field in May 2009 and the the production of copper concentrate began in 2010.

The gold produced at the ores is sent to Switzerland for processing. Gold bullions are delivered in Azerbaijan and kept at the state's account.

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