AzerGold’s export revenues exceeds 1 billion



AzerGold CJSC, one of the main exporting state companies representing the non-oil and gas sector of Azerbaijan, attracted 1 billion 716 thousand 495 manats to Azerbaijan's economy as a result of the sale of gold and silver in the international market.

Thus, as a result of the 79th export operation performed by the Company, AZN12.8mln income was derived from the sale of 3.7 thousand ounces of gold and 11.4 thousand ounces of silver in the international market. The volume of gold exported by AzerGold during the entire period of its operation reached 361.9 thousand ounces, while that of the silver reached 723.5 thousand ounces.

In addition to export operations, the total sales income of the Company, which continues to perform the retail sale of goods, as well as the raw materials in the domestic market for the development of the local jewelry market, exceeded AZN1,042bln. During this period, 11.5 thousand ounces of gold and 77 thousand ounces of silver were sold in the domestic market.

Notably, AzerGold CJSC, which started with the exploitation of only 1 mine - Chovdar located in Dashkasan region in 2017, has launched 3 more gold mines in the past 7 years located adjacent to the Chovdar field, in the territory of Dashkasan and Goygol districts. In 2021, the exploitation works in Agyokush-1 gold mine was completed, and the production process continued in the Chovdar, Marah, and Tulallar mines. Moreover, AzerGold CJSC continues the exploration and research works in the existing gold, copper, and other non-ferrous metal fields in Nakhchivan Autonomous Republic, Balaken, and Kalbajar regions.