AzerGold CJSC was established by decree of the President of the Republic of Azerbaijan, Ilham Aliyev, on February 11, 2015, marking the beginning of a new stage in the development of the country’s mining industry. This decision ensured significant progress in the exploration and study of ore deposits, as well as in the extraction, processing, and sale of precious metals within a single production chain. It also contributed to the institutional, technological, and managerial modernization of Azerbaijan’s mining industry.
Comprehensive reforms initiated by the head of state aimed at improving the business environment, stimulating exports, and developing local production have created favorable conditions for the sustainable development of AzerGold CJSC.
AzerGold, registered and commencing operations on July 5, 2016, has successfully implemented a number of significant production and infrastructure projects, making a significant contribution to the development of the country’s non-oil sector, expanding its export potential, and the socioeconomic development of the regions. Over its ten-year history, the company has discovered two new gold deposits, commissioned four gold mines and one regional industrial complex, establishing a strong position among the leading state-owned companies in the non-oil sector. In total, the company sold 563,000 ounces of gold and 989,000 ounces of silver in the domestic and international markets, generating over 1.9 billion manats in revenue for the country’s economy. It also fulfilled tax obligations of 214 million manats and social contribution obligations of 37 million manats.
AzerGold CJSC’s activities go beyond generating direct economic income and also make a significant contribution to regional development, training highly qualified personnel, and increasing employment. As a result of the company’s operations, 2,494 people have gained permanent employment. Significant progress has been achieved in developing human resources, particularly among residents of remote regions. The implementation of new mining projects and the expansion of vocational training programs envisions a significant increase in the number of permanent jobs.
AzerGold CJSC, which currently comprises its subsidiary Dashkasan Iron Ore LLC, which develops iron ore deposits, its subsidiary Azerbaijan Metallurgical Company LLC, and AzerBlast LLC, the country’s only company specializing in the production of industrial explosives, is successfully implementing an integrated operating model in the mining sector.
The state-owned company makes a significant contribution to the implementation of the state’s socio-economic and environmental policies through initiatives in the areas of social responsibility, community engagement, and environmental protection, consistently expanding its activities in these areas.
In the near future, AzerGold aims to increase the competitiveness of the national mining industry through the introduction of innovative technologies, expansion of international cooperation and exploration of the country’s mineral resource potential, as well as to strengthen its contribution to sustainable economic development through the commissioning of new non-ferrous metal mines. (Report)