AzerGold CJSC was established by the Decree of President of the
Republic of Azerbaijan Ilham Aliyev on 11 February 2015, which laid
the foundation for a new development stage in the mining industry
of the country. It enabled the establishment of an integrated value
chain for the exploration and development of ore deposits,
production, processing and sales of precious metals, and gave
significant results in modernising Azerbaijan’s mining sector in
institutional, technological and managerial terms.


Presidential initiatives to improve the business environment,
stimulate export-oriented sectors, and promote local production
have created favorable conditions for the sustainable expansion of
AzerGold CJSC’s operations. The State Company was registered on 5
July 2016 and commenced its operations. The Company has
successfully implemented several major production and
infrastructure projects, making a significant contribution to the
development of the non-oil sector, expansion of export potential,
and social and economic development in the regions of Azerbaijan.
Over past ten years of operations, AzerGold discovered two new gold
deposits, commissioned four gold mines and one regional industrial
complex. As one of the leading state-owned companies in the non-oil
sector, it has sold a total of 563,000 ounces of gold and 989,000
ounces of silver on local and international markets, attracting
more than AZN 1.9 billion to the national economy, and has paid AZN
214 million in taxes and AZN 37 million in social
contributions.


AzerGold CJSC is not only focused on forming direct economic
returns, but also makes a substantial contribution to regional
progress, development of highly qualified human capital and
increased employment. In total, 2,494 people have been employed
within the Company’s projects, with training local mining
professionals, particularly from rural areas. The implementation of
new mining projects will significantly increase the number of
permanent jobs and further expand the training of qualified
specialists.


The Company successfully applies an integrated operating model
in the mining sector, bringing together Dashkasan Iron Ore LLC,
which operates iron ore deposits, its subsidiary Azerbaijan Metal
Company LLC, and AzerBlast LLC, the only company specialised in the
production of industrial explosives in Azerbaijan.







Through targeted initiatives in corporate social responsibility,
community engagement and environmental protection, AzerGold CJSC
makes important contributions to the implementation of the state’s
social and economic and environmental policies and continues to
expand its activities in these areas.


AzerGold CJSC aims to enhance the competitiveness of the
national mining industry by applying innovative methods and modern
technologies, and by expanding international cooperation. The
Company targets enhancing sustainable economic growth by
identifying Azerbaijan’s promising mineral resource potential and
commissioning several non-ferrous ore deposits in a short or a
medium term.