Azerbaijan’s gold reserves double
By Rashid Shirinov
Azerbaijan has recorded a significant growth in gold reserves, as new fields have been explored throughout the country.
Huseyngulu Bagirov, Minister for Ecology and Natural Recourses announced about in his interview to the website of New Azerbaijan Party.
The minister further added that thanks to the upgraded base of drilling rigs and the use of new techniques and technologies, the efficiency of geological exploration work has been increased.
Overall, Azerbaijan, which started industrial production of gold in July 2009, produced 2,229 kilograms of gold in 2015. The production growth hit 19.1 percent compared to the figure of 2014.
About 900 fields were registered in Azerbaijan's state and territorial balance of reserves of mineral resources. Roughly 253 of these fields, including 18 ore, 55 non-ore, 179 deposits of construction materials and one underground fresh water deposit, have been registered after the establishment of the of Ecology and Natural Resources Ministry, the minister reminded.
Azerbaijan produced 727.2 kilograms of precious metals (597.1 kilograms of gold and 130.1 kilograms of silver) in January-April 2016, which is by 0.6 percent more than in the same period of 2015, according to Azerbaijan's State Statistics Committee.
The country also produced 560 kilograms of copper during the reporting period that is by 2.3 times more than in January-April 2015.
The gold and silver mining in Azerbaijan is currently being
implemented on the "Gadabey" and "Gosha" fields in the framework of
the PSA signed in 1997.
The contract provides for the development of six fields: one - in
Nakhchivan, two - in Gadabay region of Azerbaijan (450 km west of
Baku) and three - in Kalbajar and Zangilan occupied now by the
Armenian armed forces. Azerbaijan's share in the contract is 51
percent, while the rest are of Anglo Asian Mining PLC .
First gold mining began in 2009 from "Gadabey" field, silver mining - in 2010. The gold mining from "Gosha" field began in the third quarter of 2013.
The Ministry estimates that the country is able to produce about 10-15 tons of gold a year.
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