Azerbaijan’s AzerGold names total investment sum in Carbon in Leach project

BAKU: The implementation of the Carbon in Leach (CIL) project in Azerbaijan has attracted a total investment of 380 million manat ($223.5 million), said Chairman of the Board of AzerGold CJSC Zakir Ibrahimov during the press conference dedicated to the results of activities for 2023, Trend reports.

The chairman highlighted that the funds were sourced from the joint-stock company’s activities without creating an additional burden on the state budget.

“Together with the wet waste tank, process water pipeline from the Goshgarchay river, and other supporting infrastructure, the annual ore grinding capacity of the vat leach plant, which was completed in 22 months, is 1.1 million tons,” Ibrahimov noted.

“By considering the mineralogical structure and metallurgical characteristics of sulfide ores, the extraction of gold has been enhanced from 50 to 90 percent, ensuring economic viability. Simultaneously, the processing risk associated with a 50 percent yield of sulfide ores has been eliminated,” he added.

ld was established according to Decree No. 1047 dated February 11, 2015, by the President of the Republic of Azerbaijan Ilham Aliyev.

The CJSC is one of two companies producing gold and silver in Azerbaijan.

The company is engaged in the extraction and export of gold as part of the oxide (ground) phase of the development of the Chovdar gold field, from the Aghyokhush field as part of the first stage of its development (since November 2020), Marah (from July 23, 2021), and Tulallar (from February 2023).

Source: Trend News Agency