Azerbaijan has reduced gold production by 30.8 percent year-on-year to 367 kg in the first two months of the year,  the State Statistics Committee said.

Production of silver fell by 7.9 percent to 743 kg.

The decrease was caused by logistic problems stemming from the conflict in Ukraine, an informed source at the government told the Tribune.

There are two gold mining companies in Azerbaijan – state-owned AzerGold and London-listed Anglo-Asian Mining Company PLC. They have reserves of over 179 kg of gold and over 325 kg of silver, as of March 1, 2022, the committee said.