The company Anglo Asian Mining, mining gold, silver and copper in Azerbaijan announced the discovery of new gold deposits. According to Turan, deposit discovered in the licensed territory in Gadabay (on the border with Armenia) and is called "Ugur" ( "Success"). Tests have shown that the average gold recovery of 87%, according to the company's website.
"After the completion of a number of operational work to improve efficiency and reduce costs, the company has once again become profitable. The company will expand its production," said the company's CEO Reza Vaziri.
* The Anglo Asian Mining has three contracts for exploration and production of gold, silver, copper. The total contract area is 1062 sq / km. Another 900 sq / km area under the contract are in the territories occupied by Armenia. -71D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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