Treasures of Goygol region

On the territory of the Goygol region a large deposit of gold has been found. Reserves of the "eternal metal" in the village of Tulalar are estimated at 80 tons of gold, accompanied by potential 250 tons of silver, according to official media.

The Institute of Geology and Geophysics of the National Academy of Sciences of Azerbaijan explores the area where only one gold is worth about $ 3.4 billion at the current rate.

Recall, at the end of last year Azerbaijan produced 1 ton 619.2 kg of gold (+3.6%) and 630 kg of silver (+0.7%). Gold and silver mining is carried out from the fields Gadabay and Gosha under the contract type Production Sharing Agreement, signed on 21 August 1997.

The contract provides for the development of six fields: one - in Nakhchivan, two - in Gadabay (450 km west of Baku) and three in Kalbajar and Zangilan occupied by Armenian armed forces.

Government's share in the contract is 51% and the share of Anglo Asian Mining PLC is 49%. First gold mining began in 2009 on the field Gadabay, and silver mining - in 2010. On the field Gosha gold mining began in the third quarter of 2013.

Under the contract, the 6 mentioned fields are expected to produce 400 tons of gold, 2,500 tons of silver and 1,500 tons of copper. --17D--