Azerbaijan to produce 9.5 tons of gold from Gedebey field in eight years

Besides, 60.5 tons of silver and 7 714 tons of copper are slated for production in the field. The company will launch gold production in the field in the third quarter of the year.

According to the exploration, Gedebey holds net gold reserve of 750,000 ounces. Along with copper and silver, it reaches 1.2 million ounces.

In Gedebey field 15 tons of soil shall be refined for an ounce of gold and it is possible to get 2 grams of gold from one ton soil.

Anglo Asian Mining Plc (49%) and Azerbaijan (51%) signed a 30-year Production Sharing Agreement (PSA) to develop previously identified copper and gold properties in Azerbaijan that lie on the Tethyan Mineralization Belt which runs between Turkey and Pakistan.

The six fields reflected in the agreement include one field in Nakhchivan, one in Gandja, one in Gedebey, 3 in the occupied lands (Zod Field in Kelbedjer, Kizilbulag in Aghdara, and Vajnali in Zangilan).

Under the Production Sharing Agreement, 400 tons of gold, 2,500 tons of silver and 1.5 million tons of copper will be extracted from the contract fields.

/APA/