It is planned to receive revenues in the amount of about 300 million manats as a result of the sale of an additional 129,000 ounces of gold and 202,000 ounces of silver, which will be produced during the development of the ground surface ore layer at the Chovdar field, which will be completed in 2021, Zakir Ibrahimov, Chairman of the Management Board of the AzerGold State Company CJSC, said.
He made the remarks at a meeting of the Cabinet of Ministers dedicated to the results of socio-economic development in the first half of 2018 and the upcoming tasks.
“The document on the feasibility study for the development of the ground surface ore layer at the Chovdar field, the production of which is scheduled to be started in 2021, is prepared by an international consulting company. It is planned to receive an income of more than 400 million manats within the framework of the six-year development of the project according to preliminary calculations. In addition, the work is being carried out on active exploration and research in the near and far areas of the site in order to increase the reserves of the field,” Ibrahimov said.
He added that the company, along with the sale of assets on international markets, also made efforts to sell Azerbaijani gold and silver on local markets and reduce dependence on exports.
“SOFAZ will buy gold extracted by AzerGold this year, and the gold reserve fund of the country will be formed at the expense of Azerbaijani gold,” he said. (Trend/Ukrainian metal)