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.