BAKU, Azerbaijan, September 15. AzerGold CJSC
will cooperate with UAE-based International Resources Holding (IRH)
to study the mineral and raw material potential of the Nakhchivan
Autonomous Republic and identify prospective mineral deposits.


The cooperation will initially focus on joint geological
exploration to identify and assess strategically important and
large-scale critical mineral prospects in Nakhchivan.


For this purpose, AzerGold CJSC and Terra Mining Ltd, a
subsidiary of IRH, have signed the “Agreement for the Joint
Evaluation and Exploration of Mineral Potential and Mining
Properties within the Nakhchivan Autonomous Republic of the
Republic of Azerbaijan”. The agreement was signed on September 14,
2026, during a ceremony held in the presence of President of the
Republic of Azerbaijan Ilham Aliyev and UAE National Security
Advisor and Deputy Ruler of Abu Dhabi Sheikh Tahnoon bin Zayed Al
Nahyan, where a number of important agreements and other documents
between Azerbaijan and the UAE were formalized.


The agreement was signed by Zakir Ibrahimov, Chairman of the
Board of AzerGold CJSC, and Ali Rashed AlRashdi, Chief Executive
Officer of IRH.


The work will be carried out in stages. The initial stage will
include a review of existing geological data, geological
exploration and studies using modern methods, and the
identification of prospective areas and potential targets.







If the results of the initial exploration and assessment are
positive, detailed exploration will be carried out in the next
stage. The parties will then consider opportunities for joint
mining and further cooperation in this area.


IRH has international experience in assessing and developing
mining assets and currently operates in Africa, South Asia and the
Middle East. Bringing together IRH’s technical and investment
capabilities with AzerGold’s experience is expected to support a
more detailed study of Nakhchivan’s mineral and raw material
potential using modern international approaches.


The cooperation between AzerGold and IRH is expected to create
new investment opportunities in the Autonomous Republic, support
the development of the mining industry and increase employment,
expand economic activity in the region, and contribute to the
further development of Azerbaijan’s non-oil sector.