Azerbaijan which started industrial production of gold since July 2009 and publication of accompanying silver production in 2010. The country lowered production of gold by 15.7% and silver by 51.1% for January to August 2012.

The State Statistics Committee informs that for the first 8 months of the year country’s extraction of precious metals amounted to 1,229 kilogram. Over January to August 2012 production totaled 973.1 kilogram of gold and 449.8 kilogram of silver. It was produced 132 kilogram of gold in January, 72.7 kilogram in February, 99.4 kilogram in March, 90.5 kilogram in April, 116.2 kilogram in May, 157,8 kilogram in June, 143 kilogram in July, 156.5 kilogram in August while silver extraction reached 130 kilogram, 58.1 kilogram, 50.3 kilogram, 53.4 kilogram, 49.8 kilogram, 36.8 kilogram, 34.1 kilogram, 37,3 kilogram respectively. At that, stock reserves totaled 32.4 kilogram and 18.8 kilogram of silver.

Last year country’s extraction of precious metals amounted to 2,992 kilogram and their stock reserves totaled 104 kilogram. In 2011, the country extracted 1,775 kilogram of gold and 1,217 kilogram of silver and their stock reserves made up 48 kilogram and 44 kilogram of silver respectively.

In 2010, extraction reached 1,900 kilogram of gold and 1,500 kilogram of silver in 2010 including 273 kilogram in August. From July 2009 to 1 January 2010 the country extracted 333 kilogram and with taking into account the production in 2010 to 2012, the overall gold extraction reached 4,981 kilogram. Overall silver extraction makes at least 3,166 kilogram.

The Environment & Natural Resources Ministry estimates that the country is able to produce about 10 tonnes to 15 tonnes of gold a year. Extraction of 7.5 tonnes of gold was forecasted in 2012.

Source - News.Az

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