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…