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 :
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.
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.
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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