Azerbaijan cuts gold output 29% in Q1
BAKU. April 19 (Interfax) - Azerbaijan reduced gold production 29.3% year-on-year in January-March to 309.1 kg, the State Statistics Committee told Interfax.
The country also produced 238.4 kg of silver, down 47.8%
Azerbaijan started to mine gold in H2 2009 and silver in the fall of 2010. It mined 1.9 tonnes of gold and 1.5 tonnes of silver in 2010. It mined 1,775 kg of gold and 1,217 kg of silver in 2011, respectively 15.2% and 9.8% less than in 2010.
Britain's Anglo Asian Mining Plc poured its first gold at the Gedabek copper-gold field in Azerbaijan in May 2009. Anglo Asian Mining, established R.V. Investment Group Services LLC of the United States, holds licenses to six gold fields in Azerbaijan, which could yield 400 tonnes of gold, 2,500 tonnes of silver and 1,500 tonnes of copper.
