TODAY.AZ / Business

AzerGold boosts gold, silver production in 2020

24 July 2020 [14:24] - TODAY.AZ

By Azernews


By Ayya Lmahamad

Azerbaijan increased the volume of gold and silver production by 20.3 percent and 40.9 percent respectively in the first half of 2020 compared to the same period last year, AzerGold reported on July 24.

Thus, during the first six months of the year, 28,500 ounces of gold and 62,000 ounces of silver were produced at Chovdar mine in Dashkasan region.

Moreover, during the reporting period, the company exported 25,100 ounces of gold and 55,600 ounces of silver, which attracted $43.2 million to the country’s economy. The company’s profit in the first half of this year increased by 41 percent compared to the same period in 2019.

Furthermore, AZN 5.5 million ($3.2M) of payments were made to the state budget in the completed half of the year, of which AZN 4.5 million ($2.6M) are tax payments and AZN 1 million ($588,235) falls on payments to the State Social Protection Fund.

During the online session of AzerGold on the results of the first half of this year and the challenges ahead, it was noted that according to the strategic plan of the company, commissioning of Agiahush and Marakh fields and start of underground phase of Chovdar field development next year, as well as commissioning of Tulallar, Filizchay, Garadagh, Kharkhar, Mazymchay and other fields in the following years will ensure raising budget in the local economy and create conditions for opening hundreds of new jobs.

Environmental monitoring, geological exploration, mining, construction and other upcoming tasks were also discussed at the meeting.

“AzerGold” CJSC is a national mining company, which was established on February 11, 2016 according to the presidential decree. 

URL: http://www.today.az/news/business/195747.html

Print version

Views: 898

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: