BAKU, Azerbaijan, Aug. 19
By Fidan Babayeva - Trend:
The total depth of drilling works of Azerbaijan's leading gold mining company, Azergold CJSC, is expected to be 70,000 meters by the end of 2020, Head of AzerGold's Public Relations Department Leyla Sadikhova told Trend.
Sadikhova noted that the total depth of drilled geological wells during the first seven months of 2020 surpassed 26,000 meters.
Following the exploration work carried out in 2019 the overall reserves of the nonferrous metals at AzerGold’s sites soared by more than 20 times, Sadikhova said.
AzerGold’s representative said that the extraction and export of these reserves will bring money to the country's economy in the amount of several billion manat.
In 2019, the depth of drilling work at all sites of AzerGold, exceeded 47,000 meters, Sadikhova stressed.
The volume of gold mined in 2019 increased by 21.3 percent compared to 2018, while silver - by 33.2 percent.
Despite the fact that the company forecast to produce 50,000 ounces of gold in 2019, it produced 10.4 percent more, that is, 55,200 ounces.
Likewise, 87,400 ounces of silver was predicted to produce during 2019, while the actual volume exceeded the forecast by 17.9 percent, reaching 103,000 ounces.
Production figures for 2019 are the record-breaking for the entire period of the Chovdar mining and processing complex.
Last year, AzerGold transferred about 13.5 million manat ($7.9 million) to the state budget.
(1 USD = 1.7 manat on Aug. 18)
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