16:35 - 20.11.2024

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November 20, Fineko/abc.az. Although mining companies in Azerbaijan have increased their production of valuable gold this year, silver continues to decline, and copper has fallen even more.

ABC.AZ informs that according to the State Statistics Committee, in the first 10 months of 2024, miners extracted a total of 1,752.1 kg of metal ores, or 61,803 troy ounces of gold. Production, which fell after July 2023 due to environmental problems in gold mining, grew only by 1.2% compared with last year.

So, from the 1st half of last year to November 2023, production was stopped and an audit was conducted.

Azerbaijan sold 2,902 kg of gold for $115.26 million to Switzerland in the first 3 quarters of this year. However, the country imported about 23,859 tons (for $1.83 billion) from abroad. Silver production fell by 23.8% to 2,308 kg. Copper concentrate declined by 94.7% to 112 tons versus the 2023 same term. Over Jan-Sept 2024, Anglo Asian Mining produced a total of 9,276 ounces of gold.