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
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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