AzerGold CJSC Had the Largest Gold Mining Volume in October
09.10.2023
15:00
In October 2023, AzerGold Closed Joint Stock Company (JSC), which successfully continues acting in the fields of the mining and export of precious metals, had the largest gold mining during its activity period. Thus, in October this year, CJSC managed to extract 11.7 and 11 thousand ounces of gold and silver, respectively, from the Dashkasan and Goygol mines.
In January-October 2023, CJSC extracted 50 thousand and exported 43.1 thousand ounces of gold. Thereat, the gold mining and export plans set for the first 10 months of the current year have already been fulfilled by 11 and 19%, respectively. In general, the mining and export of 62.5 thousand ounces of gold is planned for the current year, which is 1% more in mining and 4.4% more in export than last year.
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Mining and Export Indicators for January-October 2022 and 2023 |
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|
2022 |
2023 |
Compared to the first 10 months of the last year |
Compared to the first 10 months of the current year |
|
Gold mining |
49,480 Oz |
50,055 Oz |
1%↑ |
11%↓ |
|
Silver mining |
155,521 Oz |
100,503 Oz |
35%↓ |
24%↑ |
|
Gold export |
45,075 Oz |
43,142 Oz |
4%↓ |
19%↑ |
|
Silver export |
127,344 Oz |
78,597 Oz |
38%↓ |
17%↑ |
|
Gold export revenue |
AZN 137,598,960 |
AZN 141,748,357 |
3%↑ |
44%↑ |
|
Silver export revenue |
AZN 4,637,384 |
AZN 3,171,847 |
31%↓ |
54%↑ |
|
Total export revenue |
AZN 142,236,344 |
AZN 144,920,204 |
2%↓ |
44%↑ |
The revenue from the sale of gold and silver in the domestic market for the first 10 months of the current year amounted to AZN 10,683,458. This means an increase of 88% compared to the same period last year.
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Domestic Sales for January-October 2022 and 2023 |
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2022 |
2023 |
Compared to the first 10 months of the last year |
|
Domestic gold sales |
2,394 Oz |
12,841 Oz |
80%↑ |
|
Domestic silver sales |
7,526 Oz |
23,653 Oz |
214%↑ |
|
Domestic gold sales revenue |
AZN 8,078,655 |
AZN 14,836,180 |
84%↑ |
|
Domestic silver sales revenue |
AZN 318,199 |
AZN 988,958 |
211%↑ |
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Total domestic sales revenue |
AZN 8,396,854 |
AZN 15,825,138 |
88%↑ |
As for the CJSC’s total sales revenue, for the first 9 months, it has increased by 4% compared to the same period last year.
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Total Sales Revenue for January-October 2022 and 2023 |
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|
2022 |
2023 |
Compared to the first 10 months of the last year |
|
Total gold sales revenue |
AZN 128,764,679 |
AZN 133,965,203 |
4%↑ |
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Total silver sales revenue |
AZN 4,609,567 |
AZN 4,112,679 |
11%↓ |
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Total revenue |
AZN 133,374,246 |
AZN 138,077,882 |
4%↑ |
The relative decrease observed in the mining and export indicators for the first 10 months of the current year compared to the last year is related to the specifics of the sulfide mineralization stage of the main gold mine operated by Chovdar CJSC and reflects the geological reality. Thus, currently, in the gold mine, at the stage of transition from the oxide to sulfide phase distinguished by its complexity, the less rich ore is extracted. However, it is supposed to exceed the annual mining and export targets set by the end of the year as a result of the subsequent successful activity according to the plan.
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2022 Production, Export, and Domestic Sales and 2023 Production, Export, and Domestic Sales Plans |
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Actual 2022 indicators |
2023 Plan |
Comparison of 2022 actual and 2023 planned indicators |
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Gold mining |
62,060 Oz |
62,500 Oz |
1%↑ |
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Silver mining |
223,059 Oz |
108,259 Oz |
51%↓ |
|
Gold export |
59,892 Oz |
62,500 Oz |
4.4%↑ |
|
Silver export |
193,536 Oz |
108,259 Oz |
44%↓ |
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Domestic gold sales |
3,584 Oz |
5,684 Oz |
58.6%↑ |
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Domestic silver sales |
14,301 Oz |
23,670 Oz |
65.5%↑ |
It should be noted that as of November 1, 2023, the total revenue obtained by CJSC from the sale of precious metals in local and foreign markets reached AZN 1,134,132 thousand. Export and domestic sales revenues made up, respectively, AZN 1,086,883 thousand and 47,249 thousand.
