Azerbaijan plans to significantly increase the volume of gold production and exports within the next several years, according to recent statements, made by representatives of some local producers and state officials.
Last year the country exported gold on the total sum of US$205.6 million and, as part of the plans of the Azerbaijani government, is a further increasing these figures this year.
In volume terms, exports amounted to 4,4 tonnes, almost 100% of which were delivered to Switzerland.
At present gold mining in Azerbaijan is carried out by two companies, being conducted on the basis of 6 largest fields. One of them is Anglo Asian Mining PLC.
Among the largest gold mining fields in the country are Gadabay, Gosha and the Ugur mine.
In addition to Anglo Asian Mining, gold mining activities in the country are currently carried by another company "AzerGold" CJSC. It was established last year accordance with a special decree of the President of Azerbaijan Ilham Aliyev. The enterprise is involved in the development of such largest gold mining fields in Azerbaijan as Garadagh, Chovdar, Heydag, Dagkesemen and the Kuryakchay basin.
By: Eugen Gerden