AzerGold CJSC Board Chairman Zakir Ibrahimov has said that the company has increased gold production by 2% in 2021.
He noted that AzerGold had produced 61,500 ounces of gold since early 2021. Last year the company produced 60,000 ounces of gold.
Speaking about silver production, Ibrahimov underlined that more than 135,000 ounces of silver had been extracted since early 2021, up by 11%. Last year the company extracted 121,000 ounces of silver.
The board chairman added that the demand for gold and silver items in the domestic market had grown sharply amid the changes in tax and customs legislation in early 2021.
“After the exemption of import of gold items from excise tax and sale of gold and silver from VAT, the retail sale has revived. So far, we have sold a total of 3,660 ounces of gold and 14,600 ounces of silver on the domestic market,” he said.
He mentioned that AZN 11.6 million ($6.8 million) was attracted to the company’s budget, as a result of these sales, which was seven times more than last year. Ibrahimov added that 966 ounces of gold and 14,500 ounces of silver were sold as raw materials in the domestic market.
“As a result of these sales, we were able to attract AZN 3.7 million ($2.2 million) to our budget (30% of the total sales in the domestic market),” he said.
Ibrahimov also stated that 2,694 ounces of gold and 86 ounces of silver were sold in the domestic market as finished goods.
“Some AZN 7.9 million ($4.6 million, 70% of the total sales in the domestic market) was attracted into a turnover as a result of the sale of these goods,” he said. (AzerNews/Ukrainian metal)
