The mines in Azerbaijan in January-July, produced 816.6 kg of gold, which is 20.6% less than the same period last year.
According to the SSC, for the past seven months, they also produced 412.5 kg of silver that is by a half less than as of 1 August of last year.
The plant to process gold ore in Kedabek was commissioned in May 2009 by the operating company Azerbaijan International Mining Company (AMIC), which designs gold fields in Azerbaijan.
The company was created by Anglo-Asian Mining PLC. The founder of the latter is the RV Investment Group Services LLS - operator of the development of six gold fields in Azerbaijan, including the recently designed Ordubad field.
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. - 17C-
Economics
-
Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
-
The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
-
At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
-
This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
Leave a review