Azerbaijan gold production to increase in September
- Published: Aug 16, 2017, 8 AM
Gold production is expected to start in September from Anglo Asian Mining’s Ugur gold deposit in the Republic of Azerbaijan.
Anglo Asian Mining has produced gold from its flagship Gedabeck mine since May 2009, but estimates the newly explored mining area's total mineral resource at 199,000 ounces of gold and 1,049,000 ounces of silver, with proven plus probable reserves of 147,000 ounces of gold and 808,000 ounces of silver.
Ugur is located less than two miles northwest from the company's processing facilities at Gedabek, and the Ugur ore will be processed at the Gedabeck facility.
New information on the 1866-S No Motto coins: Also in our last weekly issue of the month, John Kraljevich Jr. goes into what George Washington's ledger revealed, including how many gold doubloons he had on hand.
The mining firm anticipated hauling ore before the end of the August to meet its September target for processing precious metals.
Also a producer of copper, Anglo Asian Mining identified significant concentrations of gold and silver at Ugur in 2016.
Gold production in Azerbaijan more than tripled during the first seven months of 2017 compared with the same period in 2016.
“Gold is produced at Gedabek and other Azeri mines under a joint venture between Anglo Asian and the country’s government, which has a 49 percent stake,” according to Mining.com.
“Anglo Asian began production at Gedabek, 350 km west of the capital Baku, in July 2009 with plans to extract 22 tonnes [metric tons] of gold. Overall, Anglo Asian plans to exploit seven mines in western Azerbaijan with estimated gold reserves of 430 tonnes.”
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