British, Japanese companies likely to tap gold in Azerbaijan

Huseyngulu Baghirov, Azerbaijan’s Minister of Ecology and Natural resources, said the company will carry out re-exploration work although the fields were developed well.

“Gold-dust production can start this year, and other phases of production may be left for next year. Because of some problems, the company put off gold production until the third quarter,” he added.
According to Azeri minister, companies of the United Kingdom, Canada, the United States, Japan, and Korea take great interest in gold production in Azerbaijan.

“UK and Korean consortiums seem more active, and I think they are likely to start tapping gold in Chovdar, Balakan, Dashkesen, Nakhchivan and Gedebey fields,” he added.

Anglo Asian Mining Plc (49%) and Azerbaijan (51%) signed a 30-year Production Sharing Agreement (PSA) to develop previously identified copper and gold properties in Azerbaijan that lie on the Tethyan Mineralization Belt which runs between Turkey and Pakistan.

The six fields reflected in the agreement include one in Nakhchivan, one in Gandja, one in Gedebey, 3 in the occupied lands (Zod Field in Kelbedjer, Kizilbulag in Aghdara, and Vajnali in Zangilan).

/APA/