Azerbaijan: AzerGold company holds open tender

AzerGold CJSC held an open tender for stripping, mining and transportation of rocks at the Chovdar ore processing site from the Chovdar field within the sulfide phase of development. The tender was also held for grinding oxide rocks from the Aghyokhush, Mereh and Chovdar fields. AzerGold CJSC signed a contract worth 72.9 million manats ($42.8…

Azerbaijan: AzerGold digitalizing Soviet-era data on non-ferrous metal ore deposits

Azerbaijan’s AzerGold CJSC, jointly with Ministry of Ecology and Natural Resources, has digitalized data on the deposits of non-ferrous metal ores in Azerbaijan, collected during geological explorations in Soviet times, since 2018, the company’s board chairman Zakir Ibrahimov reports said. Ibrahimov made the remark at the event entitled “Current problems, reforms and prospects for the…

Azerbaijan: AzerGold’s revenues up in 2020

Azerbaijan’s gold mining company AzerGold’s net profit increased by 287.3% YoY in 2020, the company’s press service reported. In 2020, the company’s net profit increased by about $35.8 million and exceeded $48.2 million. Moreover, the company’s gross profit, profit margin, as well as EBITDA increased. Thus, the total profit of the company increased by $43.04…

Azerbaijan: AzerGold export revenue up in 2020

Azerbaijan’s gold mining company AzerGold increased revenues from the export of precious metals by 29% YoY in 2020, AZN 186.5 million ($109.7 million), the company’s CEO Zakir Ibrahimov reported. Ibrahimov stated that sales of gold amounted to 59,400 ounces, while silver to 119,400 ounces in 2020. Gold topped the list of non-oil goods exported last…

Azerbaijan: AzerGold invests $9.5 million in exploration drilling and research

AzerGold CJSC has signed a $9.5-million contract with AT-Geotech LLC for exploration drilling, geotechnical research, laboratory analysis, monitoring of results and report preparation work in the country. AzerGold CJSC secured the contract via a tender, the official website on public procurement reported. Established in 2015, AzerGold CJSC is engaged in the study, research, exploration, management…