AzerGold sold 30% of produced gold to Oil Fund last year

In 2020, AzerGold CJSC will continue to work to organize the formation of the country's gold reserves at the expense of Azerbaijani gold and the export of produced metals on world markets, Report informs, citing the AzerGold CJSC.

According to the information, the State Oil Fund of the Republic of Azerbaijan organized the purchase of gold produced by the company last year.

In 2020, the Fund purchased a total of 17,900 ounces of pure gold, which accounts for 30% of the company's total gold sales last year.

AzerGold was established in 2016 under the decree of President Ilham Aliyev, dated February 11, 2015. Its authorized capital makes AZN 37 million. The company is engaged in the development of the non-oil sector in Azerbaijan. It aims to study, research, explore, manage, produce, process, and sell precious and non-ferrous metal ore deposits.