“AzerGold” CJSC carried out the largest export operations during the period of its activity in September 2023. As a result of the two export operations, 13.300 ounces of gold and 15.800 ounces of silver were sold on the foreign market, the company’s press service reports. The volume of exports reached a record amount for the entire period of “AzerGold”s activity – 43 million 210.000 manats. According to the company, in January-September this year, “AzerGold” produced 38.300 ounces of gold, and exported 36.400 ounces of gold. Gold production declined by 10%, and exports – by 7%. The revenue from the export of gold and silver for the past period of this year is 122.2 million manats, which is down by 2% from the first nine months of the last year. This year, 62.500 ounces of gold are planned to be extracted and exported, which will lead to over-fulfillment of last year’s production and export indices by 1% and 4.4%, respectively, “AzerGold” believes. In the domestic market, revenues from the sale of gold and silver for the first 9 months of this year amounted to 15.8 million manats. This is up by 88% from the same period of the ast year. Thus, “AzerGold”s total revenue from sales (138 million manats) for 9 months rose by 4% as compared to the same period of the last year. “The observed relative decline in the production and export indices for the first 9 months of this year is due to the peculiarities of ore formation at the sulfide stage of the main operated gold mine “Chovdar” and reflects the geological reality. So, at present, lower-grade ores are being mined here at the stage of transition from the oxide phase to the sulfide layer, which is characterized by complexity. Nevertheless, as a result of the continued successful activity according to the plan, it is planned to exceed the established annual production and export targets by the end of the year,” the gold mining company said in a statement.
Source: Turan News Agency