Gold Mining In Azerbaijan

Azerbaijan known as gold production country in Eurasia region. The country is known as producing for a number of important minerals and with the recent development in the mining sector, there is increased exploration activities.

Oil and gas are the two dominant minerals in the country’s economy, but gold is among its most important minerals and is one of the most lucrative sectors in Azerbaijan. With most of the gold resources of the country are still untapped there is still room for more interesting investors in mining investments 

History gold mining in Azerbaijan

Gold mining can be traced back to the time of the Albanian kingdom. The history of gold production areas of the country derived from thousands of years, however gold mining was early on a Little scale with rudimentary methods. Most of the gold was then mined used for trade in the kingdom and with the neighboring kingdoms.

The recent history tracks gold mining at around 1894 when brothers Mekhor a copper mining operation commenced operation, which also produces gold at today Gedabek gold mine. However, the mining came to an abrupt finish in 1917 when the Russian Revolution began 

More gold mines were made primarily on a Little scale by the locals. Gold mining is still an important part of the economy of the country. Gold is produced in the country much smaller in size when compared to some of the leading gold producers in the world.

This is perhaps because most of the gold in the country is produced by Little operations. But with the entry of Large miners in recent times, the gold production in the country is likely to rise.

Some of the major players in the gold production in the country include the following :

AngloAsian Mining

This is the leading gold mining companies in Azerbaijan. The company has rights to six major gold deposits in the country. These gold deposits are Soyutlu, Gedabek, Gyzyl, Ourdubad, Vezhnali and Gosha Bulag. For all of these rights, the company has signed a production sharing agreement (PSA) with the government Mine Approximately 400 tons of gold and 2,500 tons of silver. 

The company currently operates two Large gold mines; the Gosha gold mine and the Gedabek gold mine has a total of Approximately 80,000 ounces of gold per year. The Gedabek gold mine, which is approximately 55 km from Ganja City the biggest of the two mines with an estimated gold resource of Approximately 1.05m ounces of gold, Approximately 8.62m ounces of silver and 81,750 tons of copper.

The mine produced Approximately 50,000 ounces of gold annually. The Gosha gold mine on the other Middle is a Little mine on a 300km2 site and Approximately 50 km from the Gadabek Goldmine.

The mining operation started in 2013 and is expected to produce Approximately 15,000 ounces of gold per year for five years. To improve the production of AngloAsian a new technology introduced in the mine.

The ore is leached then stirred to increase its gold production of sulfides and oxides by more than 65% and 85% respectively. This helps to increase Approximately 20% of the total gold production.

AIMROC is another important gold producing companies in Azerbaijan. The company signed a production sharing agreement (PSA) with the government in two years in 2006 and owns the mineral rights to six gold projects in the country. This gold projects are Goydag, Kurekchay river basins, Garadagh, Dagkesaman, Chovdar and Kohbemadan. The company operates only a gold mine with the rest of the projects are still in development. The Chevdar gold mine began in 2012 and operates it is estimated that Approximately 40 tons of gold  the contained resources

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Gold Mining In Armenia

Gold mining and the mining industry in common is very important for the economy of Armenia, contributing Approximately one half of its total exports. The main mineral is molybdenum but Armenia is also to have significant gold reserves located in its territory. The country has Approximately 13 operational gold and gold polymetallic mines. There are also several other deposits still in development. This means that the country still has to be considered a great potential for gold investors. 

Armenia Gold mines
Armenia has a history of gold mining that goes back many centuries. Most of the early gold mining was done in the early years, to finance the construction of religious locks in early Asia. During the Soviet era, the country had a modest gold sector with the production in 1989 slightly more than two tons of gold. 

The gold production after the split from the Union in 1991. The country went to below 1000 kg in 1995. by a depression, but has recovered and now gold is one of the main exports. The growth of gold production in recent years has been adopted by the legal reforms in 2012 in collaboration with the International Finance Corp (IFC), reviewed the government of Armenia and adopted its new mining law in 2012 so that further opening Aided was its mining sector. This has seen an increase in domestic gold production in recent years. The new mining laws Permit a two-tier licensing structure that will Aid the industry attract investment.

Gold Mining In Armenia

The mining sector to invest, a 4% tax on gross income, 12.5% ​​royalties based on the result. All these royalties are important deductions that arrive before a 20% corporate tax and the interest will be charged.

The gold mining in Armenia has more foreign investment. The first Dynasty Mines, which is registered in Canada, was the first foreign company to invest in the country’s gold sector. In 1997, the First Dynasty Mines bought a stake in the Ararat Gold Mining Plant. The plant was later converted to the Ararat Gold Recovery Company, before it was sold to GeoProMining Gold in 2007. 

Geo ProMining Gold is the largest gold mining company in Armenia is operating both the Ararat gold recovery plant and Zod (Sotk) mines , The company reconstructs the gold processing plant at Zod mines in 2013 to use a new technology Albion. This technology was developed by the Australian company Xstrata Technology and has been applied for the first time in the Dominican Republic. Armenia is now in the world to apply the second country. The Albion technology enables the company to simultaneously process different types of ores. This is expected to contribute to Approximately 4.6 tonnes per year gold production from the mine to.

Another important player in the gold sector of the country is the Lydian international, another Canadian gold mining company. The company owns and operates the Amulsar gold mine open pit, which is located in southern Armenia. The company has its major discovery in 2006 and the development of the mine in 2012 with production in 2015.

The Amulser gold deposit is estimated that Approximately 2.3 million ounces of gold reserves at 0.8 g / t and approximately 9.98 million ounces of silver contained begun starting in a content of Approximately 3.4 g / t. It is estimated to produce the gold mine Approximately 6.25 tons of gold per year for 10 years. 

Another major player in the Armenian gold mining the Dundee Precious Metals Inc., through its subsidiary Deno Gold, which owns the Deno Gold Project in southern Armenia and operates. The project is expected to comprise around 400,000 tons of polymetallic gold and silver ore. The company is also working on the shahemyan deposits still in Deno Gold Project. 

Video Gold Mining In Armenia And Mining Industry Today