SIGNIFICANCE OF THE METALLURGICAL INDUSTRY OF AZERBAIJAN IN THE NON-OIL SECTOR, THE ROLE OF AZERGOLD CJSC IN THE ECONOMY OF THE REPUBLIC

Abstract

Geological surveys carried out by the Closed Joint Stock Company (CJSC) AzerGold for the exploration of new deposits and expansion of production areas are giving positive results. For an effective assessment of reserves at the fields, AzerGold CJSC conducts intensive exploration work and drills deep wells in these fields. Since 2017, AzerGold CJSC has been mining Chovdar, Agyokhush, Tulallar, Marakh, Filizchay etc others and Jayirchay gold, as well as it carries out various works on fine metal deposits. The latest financial indicators of AzerGold CJSC give reason to say that it is a stable company. It is expected that AzerGold CJSC will react faster to the growth rates in the world markets due to the work carried out at new gold deposits and efficient use of resources. The net profit of a Closed Joint Stock Company has been growing at a higher rate over the years. AzerGold CJSC produces ingots and coins from Azerbaijani gold and silver in various historical designs. Bars and coins are currently sold in stores owned by Italdizain Group, Levata Group and SI Luxury World, which have a long history of selling premium goods. AzerGold CJSC will soon become better known in the local and international markets as a gold producer of the country. AzerGold CJSC issues bonds, increases the company's technological capabilities for gold production and strengthens production in order to bring more gold to the world market. Recent financial indicators of AzerGold CJSC give grounds to say that it is a stable company. The company's revenue, net profit and total capital of the company in 2019 increased several times compared to 2018. Keywords: AzerGold CJSC, geological exploration works, drilling works, production works, efficiency.