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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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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