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’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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