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AzerGold reveals gold, silver extraction value from aboveground part of Chovdar deposit (UPDATE)



(MENAFN - Trend News Agency) Details added (first version posted on 18:26)

Baku, Azerbaijan, Dec. 7

By Taleh Mursagulov - Trend:

Since the beginning of its activity, Azerbaijan's AzerGold CJSC has extracted 105,000 ounces of gold and 155,000 ounces of silver at the aboveground part of the Chovdar deposit, Trend reports citing Zakir Ibrahimov, chairman of the company, as saying at an event on the efficient use of natural resources in industry.

He said that revenues from the sale of these precious metals exceeded 230 million manats.

He noted that it is also expected to extract 210,000 ounces of gold and 345,000 ounces of silver at the aboveground part of the Chovdar deposit, and this will bring an income of over 450 million manats.

'After completion of the aboveground extraction stage, we will switch to underground extraction at the Chovdar deposit,' he said.

He noted that as part of the underground extraction at the Chovdar deposit, it is planned to get 350,000 ounces of gold and 1.2 million ounces of silver, and this will bring an income of over 500 million manats.

The Chovdar deposit is located in northern Dashkasan district, which includes special and complex gold fields.

AzerGold CJSC started operating in July, 2016 and is engaged in studying, research, investigation, management of deposits of precious and non-ferrous metals, their production, processing and sale, and also application of new technologies in this sphere, improvement of material and technical base and implementation of other work related to development of this sphere.

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AzerGold reveals gold, silver extraction value from aboveground part of Chovdar deposit (UPDATE)

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