The first blast at an old mine turns the project into a test for AzerGold: can the company convert record bullion prices into profitable production and development for Kalbajar? The first drilling-and-blasting cycle at the Soyudlu gold deposit marks the start of a project whose potential scale exceeds everything state-owned AzerGold has sold since it began operations. Yet the multibillion-dollar estimate for metal in the ground is both the mos...

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