Export revenues of Azerbaijan International Mining Company dwindle

Azerbaijan International Mining Company Ltd., a wholly-owned subsidiary of Anglo Asian Mining PLC and a gold, silver, and copper producer in Azerbaijan, exported products worth USD 69.2 million in January-August 2021, down USD 0.2 million or 0.3% from the previous year, Report informs, citing the Export Review of the Center for Economic Reforms Analysis and Communication (CERAC).

Anglo-Asian Mining is engaged in production in Azerbaijan under the PSA (Production Sharing Agreement) signed on August 21, 1997. Azerbaijan's share in the contract is 51%, while the share of the Anglo-Asian Mining Plc makes 49%. The first gold production (from Gedabek deposit) began in 2009. The Gedabek deposit is made up of integrated open pit mines. The company is also engaged in production at the Gosha underground mine, 50 km off Gadir and Gadabay deposits as well as the newly discovered Ugur open pit.