Bank Of Baku

Azerbaijan decreases gold and silver productions by 15% and 52%

Azerbaijan decreases gold and silver productions by 15% and 52%
# 15 October 2012 14:43 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. In January-September, 2012, Azerbaijan decreased gold and silver production, in comparison to a year earlier.

State Statistical Committee says 1.1 tons of gold and 477 kg of silver were produced in the country during the same period, down 15.4% AND 52.3% form previous year.

The gold is extracted under the contract between Azerbaijan and British R.V.Investment Group Services Company on “exploration, exploitation and sharing of Gedebey, GOsha, Ordubad group, Soyudlu, Gizilbulag and Vejnali perspective gold ore deposits”.

Generally, as of today, Azerbaijan’s gold reached 21,413.4 troy ounces (666 kg). Market value is $38 mln.
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