BAKU, Azerbaijan, July 29
By Sadraddin Aghjayev – Trend:
The total volume of potentially usable, economically efficient ores at the Dashkesan ore deposit, owned by Azerbaijan's AzerGold CJSC, is 597,000 ounces, a source in the company told Trend on July 29.
According to the source, to date, 259,000 ounces of gold were produced from this deposit, and in the coming years it’s planned to produce another 338,000 ounces.
“As a result of the export of 248,000 ounces of gold and 446,000 ounces of silver, we attracted about 640 million manat ($376.4 million) in foreign currency to the Azerbaijani economy. Of these, almost 59 million manat ($34.7 million) accounted for taxes and duties,” the source said. “The company's net profit in 2020, despite the restrictions associated with the COVID-19 pandemic, increased by 4.7 times (by 78.5 million manat or $46.1 million) compared to 2019."
The company issued $20 million in bonds last year to provide corporate finance for mining projects, with securities having a yield of four percent and a maturity of three years, added the source.
The company’s Board Chairman Zakir Ibrahimov stressed that over the past five years, the CJSC has completed more than 180,000 meters of drilling operations, and metal reserves have increased by 24 times compared to 2017 (179,000 ounces).
Ibrahimov also noted that by 2030 AzerGold CJSC plans to commission new deposits of iron ores: Marakh (gold), Tulallar (gold, silver), Agyokhush 2 (gold), Dashkasan (iron ore) , Filizchay (zinc, copper, lead, silver), Ortakand (copper), Mazymchay (copper), Goydagh (copper).
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