Export of precious metals brings 121M manats to Azerbaijani economy (PHOTO)

Export of precious metals brings 121M manats to Azerbaijani economy (PHOTO)

Baku, Azerbaijan, Dec. 27

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AzerGold CJSC exported 60,552 ounces of gold and 86,806 ounces of silver from April to December 2017, the company said in a message Dec. 27.

The export of precious metals brought an income of 121 million manats to Azerbaijan’s economy.

Having successfully passed the procedures of KYC (Know Your Customer) and due diligence required by international refining companies, AzerGold concluded a contract for the purification of precious metals with the well-known Swiss refining company Argor-Heraeus in April 2017.

AzerGold, which started operating in July 2016, managed to conduct a number of important events in a short time.

In particular, repair and construction work was carried out in the territory of the Chovdar mining enterprise located in the Dashkasan District, the company’s operations at the field were optimized, production was switched to a 24-hour operating mode, and the production process was started.

More than 6,000 different trees and bushes have been planted in the field’s territory in order to ensure the ecological balance, the necessary measures have been taken to improve working conditions, and the relevant infrastructure has been created.

Active cooperation with international consulting companies is conducted in order to create a feasibility study for the sulfide (underground) operation phase of the field, which is scheduled for 2021, after the end of the oxide (ground) phase of operation in 2020.

One of the main strategic goals of the company is to ensure sustainable and continuous development of the non-ferrous metals industry in the country.

For this purpose, a document is being prepared in cooperation with authoritative international consulting companies for a primary economic assessment of reserves of copper, zinc, gold, lead, silver at the Filizchay field, which is of strategic importance not only for Azerbaijan, but also for Europe.

Over the next years, metallurgical, laboratory, geotechnical, hydrological and environmental studies are planned to be carried out in the field’s territory.

Moreover, drilling operations were carried out to assess the reserves at another field, Mazimchay, located in the Balakan District.

Geophysical studies were carried out, and drilling and reserve assessment are planned to be conducted in the territory of the Ortakand site of the Goydag-Alinja field, located in the Nakhchivan Autonomous Republic of Azerbaijan, in the near future.

Analysis of ore samples taken from the Dashkasan-Goygol territory is carried out in internationally certified laboratories and an intelligence plan will be prepared in line with the obtained results.

Geological research is planned to be continued in this direction in subsequent years.

About 300 people are provided with permanent job places with the purpose of organizing the activities of AzerGold CJSC today.

A Corporate Social Responsibility Committee has been established under the company in order to implement the policy of social responsibility as well as assess and meet the needs of local communities.

Meanwhile, AzerGold cooperates with various science and educational institutions with the purpose of sharing experience and forming the personnel potential of the company.

High indicators, achieved in a relatively short period of time, brought AzerGold CJSC to the leading positions in the non-oil exports of Azerbaijan.

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