BAKU, Azerbaijan, Nov. 25
Trend:
Azerbaijan’s AzerGold CJSC successfully representing the mining sector of the national economy, continues to achieve significant achievements in the field of exploration of deposits of non-ferrous and ferrous metals, geological exploration, production, and export, Trend reports referring to the company.
Reportedly, as a result of export operations carried out by the CJSC over the past three years, more than 213,400 ounces of gold and 372,700 ounces of silver were sold, attracting over 527.3 million manat ($310.1 million) to the country's economy.
"39.3 million manat ($23.1 million) of the amount was paid as taxes and social payments to the state budget (33.7 million manat or $19.8 million as taxes, and 5.6 million manat or $3.2 million as payments to the State Social Protection Fund),” said the company. “During these years, retained earnings worth 35 million manat ($20.5 million) were formed, 15 million of which were directed to increase the company’s authorized capital.”
According to the CJSC, the above economic indicators were achieved owing to the exploitation of the first phase of ‘Chovdar’ gold ore deposit in the Dashkasan district alone.
The company also added that currently, it’s carrying out intensive work in the direction of launching new fields," the CJSC noted.
In accordance with the Azerbaijani president’s order dated August 6, 2020, AzerGold CJSC has begun geophysical research and exploration work as part of the preparation of the primary assessment document for re-commissioning of the Dashkasan iron ore deposit.
The deposit with reserves in the volume of 350 million tons of ore was constantly used from 1954 through 1994, during which 92 million tons of minerals were extracted.
(1 USD = 1.7 manat on Nov. 25)
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