BAKU, Azerbaijan, September
23. Gold and copper deposits in the Nakhchivan
Autonomous Republic of Azerbaijan will be brought into
production.
This is outlined in the "State program on the development of the mining
(metal ores) and metallurgical industry for 2027–2030," approved by
the President ofthe Republic of AzerbaijanIlham Aliyev.
The decree noted that the feasibility study (FS) for the
Ortakand gold deposit will be finalized and a final investment
decision will be made. Construction of a processing plant for the
Ortakand gold deposit is planned to begin, while preliminary
assessments will be carried out for other priority deposits.
Production at the Ortakand deposit will then begin, and final
investment decisions will be made on bringing other priority
deposits into operation.
The main implementing agency for the process is AzerGold CJSC.
Other implementing agencies are the Ministry of Ecology and Natural
Resources and the Ministry of Economy.
Chairman of the Board of AzerGold CJSC, Zakir Ibrahimov, said at
a meeting chaired by President Ilham Aliyev on September 22
dedicated to the draft state program for the development of the
mining and metallurgical industry that initial production at the
Ortakand gold deposit in Nakhchivan is planned for 2029. The gold
resources amount to 246,000 ounces, with an economic value of 1.8
billion manat ($1.06 billion). The required investment is 255
million manat ($150 million), and the project is also planned to be
financed through AzerGold's internal revenues and borrowed
funds.
