Oil Fund of Azerbaijan Purchased 17.9 Thousand Ounces of Locally Produced Gold in 2020

AzerGold CJSC sold 17.9 thousand ounces of pure gold to the State Oil Fund of Azerbaijan (SOFAZ) in 2020, the press secretary of the society Ariz Tarverdiyev said.

Note that this is about 30% of all gold sales of AzerGold CJSC last year.

At the same time, Tarverdiev did not comment on plans to sell gold to the State Oil Fund in 2021, since there are no such agreements officially yet. AzerGold CJSC was established by the decree of the President of Azerbaijan Ilham Aliyev dated February 11, 2015. In 2020, AzerGold mined over 60 thousand ounces of gold and over 121 thousand ounces of silver. Compared to 2019, gold production increased by 9%, and silver – by more than 18%.