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.
