AzerGold's budget payments reach AZN 55 million

"Today, AzerGold CJSC has become one of the leaders in the non-oil industry in the country," the Chairman of the Board of the joint-stock company Zakir Ibrahimov said at a business forum on "Jewelry activity: current situation and prospects."

"Over the years, the organization has contributed to the socio-economic development of our country as a result of the development of non-ferrous and ferrous metal deposits, processing of precious metals, and exports to world markets, and is now working hard in this direction. As you know, in order to organize the sale of metals on international exchanges, extractive companies have to go through several complicated procedures and international audits. Today, we can proudly say that AzerGold successfully passed all these numerous inspections in 2017 and was able to bring the metals produced in Azerbaijan to the world market by signing a contract with one of the world's leading Swiss refining companies. Since 2017, we have attracted more than AZN 614 million to the country's economy from the sale of more than 241,000 ounces of gold and 422,000 ounces of silver," he added.

"In addition, as a result of these operations, we have paid more than AZN 54.5 million in taxes and duties to the state budget. Of this, AZN 47.7 million was paid to the State Tax Service under the Ministry of Economy, and AZN 6.8 million to the State Social Protection Fund under the Ministry of Labor and Social Protection. At present, along with the export of precious metals to international markets, work is underway to supply gold and silver to a number of other local institutions," Zakir Ibrahimov said.