You are here : Home > Mining & Refining

Azerbaijan increases gold export by 37% in January-May

12 July 2021

In January-May 2021, Azerbaijan exported 2,420.26 kg of gold to world markets, which is 36.7% more than the same period last year, the government told Interfax-Azerbaijan.The value of exported gold amounted to $ 87 million 422.81 thousand (an increase of 35.1%).In January-May 2021, silver was exported from Azerbaijan 1 thousand 383.33 kg (an increase of 48.2%) for $ 1 million 61.04 thousand (a 2-fold increase).The entire volume of exports of gold and most of the silver (1 thousand 213.33 kg for $ 1 million 3.24 thousand) fell on Switzerland. A small amount of silver (170 kg for $ 57.8 thousand) was sent to Turkey.

In 2020, Azerbaijan exported 4 thousand 435.97 kg of gold to world markets for $ 205 million 577.52 thousand.Gold mining in Azerbaijan is currently carried out by two companies. In particular, on August 21, 1997, Azerbaijan signed a contract providing for the development of 6 fields. Azerbaijan's share in the contract is 51%, Anglo Asian Mining PLC - 49%. According to the contract, in total, it is planned to extract 400 tons of gold from these deposits.The first gold mining began in 2009 from the Gadabay deposit, and silver mining - in 2010. Gold mining began at the Gosha deposit in the third quarter of 2013.

In addition, "AzerGold" CJSC, established by the decree of the President of Azerbaijan Ilham Aliyev dated February 11, 2015, is engaged in gold mining.The society is engaged in the study, research, exploration, development and management of gold and iron ore sites in Garadagh, Chovdar, Heydag, Dagkesemen, the Kohnemeden site and the Kyuryakchay basin.