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.