18 Jan 2013 12:29

Gold production in Azerbaijan down 12% in 2012

BAKU. Jan 18 (Interfax) - Gold production in Azerbaijan last year amounted to just under 1.563 tonnes, or 12% less than in 2011, the country's State Statistics Committee told Interfax.

Silver production in the republic weighed in at 625.8 kilograms, down 48.6%.

The Azerbaijani government had forecast gold production of 1.793 tonnes for last year.

Gold and silver is being mined in Azerbaijan's western regions under a PSA signed in August of 1997 with Anglo Asian Mining plc (state - 51%, investor - 49%). The contract involves the development of six deposits, with production taking place at three in Kedabek and Nakhichevan (the other three are not being developed due to the conflict with Armenia over Nagorno-Karabakh.