Azerbaijani media reports that another batch of gold bars in the amount of 4900 gold ounces (152.4 kilograms) has been turned in for storage to the Central Bank by Azerbaijani Ministry of Finance.
As reported, the gold, mined at Gedabek gold mine and sent to Switzerland for treatment, falls to Azerbaijan’s share in the framework of the contract on development of this field.
16512.9 troy ounces (513, 6 kilograms) of the gold from Gedabek mine was previously turned in to the Central Bank for storage.
Note, Anglo Asian Mining PLC Company has rights to the development of 6 (Gedabek, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali, Soyutlu) mines in the south-west of Azerbaijan, based on the PSA type contract signed in August of 1997 in Azerbaijan.
According to the contract 400 tons of gold, 2500 tons of silver and 1.5 tons of copper is planned to be mined.
