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.
