Zakir Ibrahimov, Chairman of the Executive Board of AzerGold
CJSC, met with a delegation led by Malcolm Forbes-Cable, Vice
President of the international consulting firm Wood Mackenzie.
Z.Ibrahimov noted that thanks to economic reforms, favourable
investment climate, and state support for the mining industry in
our country, the CJSC has achieved significant accomplishments and
gained extensive experience in its fields of activity.
During the meeting, AzerGold’s strategic development priorities,
production increases, and plans for accessing international markets
were discussed. It was mentioned that the commissioning of new
deposits in the coming years and the start of a new production
phase from 2028 are planned. Strengthening human capital and the
application of international experience are among the main
goals.
It was stated that the company considers international expansion
a priority in the long-term perspective and is showing interest in
foreign projects, particularly gold and potentially copper
deposits. Preference is given to countries that are stable from an
investment standpoint with clear legal frameworks, as well as
"brownfield" projects that possess existing infrastructure and
production bases. Central Asian countries—Uzbekistan and Kazakhstan
were mentioned as potential directions for cooperation. Although it
was reported that initial discussions had been held in African
countries, the existence of political and institutional risks in
some regions was emphasized.
Malcolm Forbes-Cable spoke about the global experience of “Wood
Mackenzie” in the fields of the mining industry, energy, oil and
gas, and investment strategies. Information was provided regarding
projects on improving legislation in the mining sector and
increasing investment attractiveness in different countries.
An exchange of views took place during the meeting regarding the
application of international experience in Azerbaijan's mining
sector, the use of benchmarking tools, and the enhancement of
competitiveness. The parties reached an agreement to continue
discussions on directions of mutual interest.
