Revenues of Azerbaijan’s state budget from the sale of precious metals over the past five years amount to nearly 757 million manat (over $445 million), said Khayam Farzaliyev, Deputy Chairman of the Board of AzerGold CJSC.

He made the statement on Thursday at a ceremony of presenting the book "Exploration of minerals and the foundations of the mining industry", which was held in Baku, a correspondent of News.Az reports.

Farzaliyev noted that AzerGold CJSC has exported 287,000 ounces of gold and 530,000 ounces of silver since its establishment.

“Currently, at the Chovdar gold deposit, Dashkasan district, and the open gold deposits - Agekhush 1 and Marakh, work on transfer from the oxide to the sulfide phase is underway. As a result of geological exploration work carried out in the Dashkasan district last year, another potential gold deposit, Narimanly, has been discovered,” the company official added.

Head of the National Geological Exploration Service under the Ministry of Ecology and Natural Resources Ali Aliyev and the Deputy Board Chairman of the State Agency for the Use of Mineral Resources under the ministry Azer Shukurov also took part in the ceremony.

News.Az