Last Year, Government Received 215.5 Kg of Gold
The Ministry of Finance last year received and deposited in CBA 215.5 kg of gold (in 2013 it was 149 kg).
As stated in the report of the government, the precious metal from the field Kedabek is usually sent for cleaning and bringing up to standard in Switzerland - by the company MKS Finance SA
As of January 1 this year the total gold reserves of the government of Azerbaijan was 37 thousand 132.7 troy ounces (1,155 kg) in the form of ingots 999.9.
In May 2009, Azerbaijan International Mining Company (AIMC), which develops gold fields in Azerbaijan, commissioned a plant for processing gold ore from the Kedabek field. In July 2009, the company started commercial production of gold. In the third quarter of 2013 it started production of gold from the field Gosha.
AIMC was created by Anglo-Asian Mining PLC (founded by RV Investment Group Services LLS). It is the operator of the development of 6 gold fields in Azerbaijan, including the deposits Kedabek and Gosha. Under the contract, from these fields it is expected to produce 400 tons of gold, 2,500 tons of silver and 1.5 thousand tons of copper.-- 17D-
-
- Economics
- 10 April 2015 01:37
Economics
-
By the end of 2024, inflation in Azerbaijan is projected at 5.1%, increasing to 5.8% in 2025, as per the Central Bank's announcement. Just six months ago, in April, the bank had forecasted inflation at 3.5% for 2024 and 4.2% for 2025.
-
The Cabinet of Ministers of Azerbaijan has approved the charter of the "Tourism and Recreation Zones Management and Development Center," a public legal entity under the State Tourism Agency. The decision, made on November 4, is intended to fulfill the requirements outlined in the presidential decree from August 2, 2024.
-
A new desalination plant to produce drinking water is set to be built in Sumgait, Azerbaijan, as part of a project aimed at meeting increasing water demands in Baku and the Absheron Peninsula. The project was announced on November 5 during a bid-opening ceremony for proposals submitted in a tender for the plant’s development, according to the Turan news agency.
-
Heydar Aliyev International Airport (GYD) has solidified its role as a critical transit hub for Azerbaijan, connecting Baku to over 80 international destinations across more than 30 countries. With routes linking major European cities like London, Paris, and Rome, as well as strategic points in the Middle East, Central, and South Asia, the airport has become central to Azerbaijan’s tourism and transit expansion.
Leave a review