BAKU, Azerbaijan, September 23. Gold and copper deposits in the Nakhchivan Autonomous Republic of Azerbaijan will be brought into production.
This is outlined in the "State program on the development of the mining (metal ores) and metallurgical industry for 2027–2030," approved by the President ofthe Republic of AzerbaijanIlham Aliyev.
The decree noted that the feasibility study (FS) for the Ortakand gold deposit will be finalized and a final investment decision will be made. Construction of a processing plant for the Ortakand gold deposit is planned to begin, while preliminary assessments will be carried out for other priority deposits.
Production at the Ortakand deposit will then begin, and final investment decisions will be made on bringing other priority deposits into operation.
The main implementing agency for the process is AzerGold CJSC. Other implementing agencies are the Ministry of Ecology and Natural Resources and the Ministry of Economy.
Chairman of the Board of AzerGold CJSC, Zakir Ibrahimov, said at a meeting chaired by President Ilham Aliyev on September 22 dedicated to the draft state program for the development of the mining and metallurgical industry that initial production at the Ortakand gold deposit in Nakhchivan is planned for 2029. The gold resources amount to 246,000 ounces, with an economic value of 1.8 billion manat ($1.06 billion). The required investment is 255 million manat ($150 million), and the project is also planned to be financed through AzerGold's internal revenues and borrowed funds.
