Azerbaijani gold put on sale on European stock exchanges

“Nearly 30,000 ton of ore was extracted in a month. Moreover, the gold extracted turned out to be more high-grade than expected. Its ore content is about 75-83 percent,” he said.

Gadabay gold processing plant was launched in May 2009. AMIC estimates ore reserves of the deposit at 12.380 million tons.

“The deposit is estimated to have reserves of 22 tons of gold, 192 tons of silver and 37,000 tons of copper. It is estimated that every ton of ore contains 1.54 grams of gold, 13 grams silver and 0.26 percent copper,” AMIC geologist Mehman Talibov said.

Gold processed at the plant is sent to Sweden for re-processing and is put on sale in European markets in the form of ingot.

AMIC has also coordinated drilling operations in Ordubad and Tovuz with the Azerbaijani government.

/Interfax Azerbaijan/