R.V.Investment will work on Azeri gold fields

The minister told that, examination of the document is the 'ordinary program of the economic activities' and the concrete works will begin after its confirmation this year. Besides, Bagirov, rejected to inform about the plan of actions, referring to the commercial secret of the company. "We have serious chances for the beginning of the exploitation of the gold fields with R.V.Investment Company", the minister added.

The contract on prospecting, exploitation and distribution of the mining of the polimetallurgy ores between the American Company R.V.Investment Group Services LTD and the Azerbaijani 'Azergizil' Company, was signed on August 20 1997. The contract intends the exploitation of 9 fields (including 3 in the occupied territories) - Gadabay, Soyudlu, Vajnali, Kizilbulag, Goshabulag, Goshaordubad and others. The Azerbaijani supplies are 400 tones gold, 2600 tones silver and about 1,5 tones copper. The contract is valid for 15 years with 5-year prolongation. 51% fate participation belongs to Azerbaijan. However, some years ago, the work plan of the contract was stopped, connected with the low price of gold in the woprld market.