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Azerbaijan Wants to
Increase Gold Consumption

Azerbaijan wants to increase gold consumption. The country has already bought 15 tonnes of gold in 2012 and wants to double that amount by investing 1.5 billion dollars during 2013.

With only 250 kg of gold in 2012, the Caspian-Caucasian country will have reached an amount of 30 tonnes by the end of 2013. It's an impressive increase in terms of percentage in 2 years.

In addition, there are 6 mines (Gedabek, Gosha Bulag, Soyutlu, Vejnali, Gizil Bulag and Ordubad) that will work on extracting approximately 400 tonnes of gold and 2,500 tonnes of silver in addition to 1.5 tonnes of copper in the coming years.

The 6 mining fields are located in the southwestern part of the country.

The Anglo Asian Mining PLC Company that owns the mines has signed the agreement with the Azerbaijani government in August 1997 already.

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