BAKU, Azerbaijan, September 24. Azerbaijan’s
AzerGold CJSC has identified bringing new deposits into economic
circulation and expanding the mining and processing chain as among
its key priorities for the coming period, the Chairman of the
Executive Board of AzerGold, Zakir Ibrahimov, said at a briefing
held today, Trend’s correspondent reports from the event.
He said the results achieved in recent years demonstrate that
the necessary foundation and institutional experience have been
established for the development of a modern mining industry in
Azerbaijan.
“Based on the results we have achieved over these years, we can
say that, thanks to the state’s attention to and support for this
sector, a foundation and institutional experience have already been
established for implementing the State Program and expanding
Azerbaijan’s modern mining industry. Over 10 years, AzerGold has
significantly expanded its production, output and revenue potential
by discovering two new gold deposits, commissioning four gold mines
and one regional industrial complex, and developing new areas of
activity.
“As a result of the company’s operations during this period, 2.3
billion manat ($1.3 billion) in revenue has been generated for the
country’s economy, and 267.2 million manat ($157.1 million) in tax
payments have been made to the state budget as of August this year.
During this period, the company generated a total of 618 million
manat ($363.5 million) in profit. Based on its financial results
for 2025, approximately 42 million manat ($24.7 million) of the
profit is expected to be transferred to the state budget as
dividends.
These results demonstrate AzerGold’s contribution to the
development of the country’s non-oil industry, expansion of export
potential, generation of state budget revenues and creation of
economic value as a whole,” the AzerGold chairman emphasized.
According to Ibrahimov, the State Program marks the beginning of
a new stage of activity for AzerGold while also creating an
opportunity to apply the experience accumulated over the past
decade on a broader scale. “Our main tasks in the coming stage are
to bring new deposits into economic circulation, expand the mining
and processing chain, and create greater added value within the
country,” he added.
Ibrahimov said AzerGold has been designated as a key
implementing body for a number of important priorities in line with
its areas of activity under the Action Plan of the State
Program.
He noted that the company aims not only to maintain its current
development momentum but also to make new contributions to the
development of the mining sector. “As AzerGold, we clearly see the
responsibilities before us at this new stage. Our main goal in the
coming period is not only to maintain the current development
momentum but also to make new contributions to the development of
the sector we represent,” the chairman of the board said.
