AzerGold holds meeting with well-known geologists

AzerGold Closed Joint-Stock Company (CJSC) held a meeting with the geologists who have made significant contributions to the development of geology and mining in the country.

Before the meeting on 5th of July - which coincided with the 5th anniversary of the Company, AzerGold staff visited the grave of national leader Heydar Aliyev in the Alley of Honors, paid tribute to his memory and laid a wreath at the monument. Besides, the visitors put flowers at the grave of academician Zarifa Aliyeva and commemorated the martyrs in the Alley of Martyrs who died for the freedom of our nation and the territorial integrity of the country.

While making a speech in the meeting, Zakir Ibrahimov, the Chairman of the Executive Board of AzerGold CJSC, noted that mining industry is one of the main lines of activity of every country. The Chairman mentioned that the development of mining sector as an independent field of industry stemmed from unparalleled services of nationwide leader Haydar Aliyev. A number of important steps taken during his leadership in both the Azerbaijan SSR and the independent Republic of Azerbaijan, and the consistent policy pursued by his worthy successor, President Ilham Aliyev, revealed effective results towards the sustainable and dynamic improvement of all sectors of the country's economy, as well as mining industry.

The Chairman of the Executive Board said that July 5 owes its significance to the high value given to our prominent intellectuals who have rendered invaluable services in the study of the rich natural resources of our country and education of geological science. He expressed gratitude to the well-known geologists Shahbaddin Musayev, Muzahim Piriyev, Alakbar Ahmadov and others for their contribution to the discovery of the Chovdar gold and Filizchay polymetallic deposits. Besides, the participants revered the memory of the late geologists for their great services in the discovery and exploration of these and other deposits.

In this regard, Tofig Hasanov, a valuable scientist, doctor of geological-mineralogical sciences, corresponding member of Azerbaijan National Academy of Sciences, who rendered invaluable services in the study of the Filizchay field, was honored at the meeting. Zakir Ibrahimov noted that Tofig Hasanov, who determined Pliensbachan age of Filizchay polymetallic deposit on the southern slope of the Greater Caucasus, made great contributions to geology. The Chairman emphasized the fact that by estimating the exact age of ore-bearing rocks and mineralization in the Filizchay field for the first time Tofig Hasanov created great opportunities for the study of other fields in the region. Thus, the prosperous path started by the old scientists, named today with great pride, was successfully continued by their successors, the new generation of geologists.

The chairman also spoke about the accomplishments of the Company in 5 years and the tasks ahead. He stressed out that the economic and political achievements of Azerbaijan over the past 20 years, the growing role of our country not only at the regional level but also globally have had a direct impact on the implementation of large-scale economic projects and the development of all sectors of the economy. This point has also affected the mining sector.

The Chairman added that the Company, which started operation in 2016 with the exploitation of only one mine - "Chovdar" gold mine, is currently conducting production at two mines. In a short period of time, Agyokhush and Marah gold deposits were discovered. In general, the Company continues exploration work on Chovdar non-ferrous metal ore fields, including Agyokhush and Marah, Kohnameden field, the gold and copper deposits in the Nakhchivan Autonomous Republic (Goydag field) and Dashkasan iron ore fields. It is planned to put new mines into operation in the coming years.

Zakir Ibrahimov noted that as a result of the exploitation of a single mine - Chovdar gold mine in Dashkasan, the export of non-ferrous metals has raised the country's economy for more than 639 million manats. Noting about the company's successful performance, the chairman said that absence of loan obligations might serve as a clear example of a good financial policy. Zakir Ibrahimov also added that according to the preliminary results of the forthcoming financial audit of AzerGold, the company will pay dividends to the state, its shareholder, for the first time.

The Chairman expressed confidence that the Company will continue to achieve its goals, especially in the coming period, to further improve the socio-economic landscape of the regions with the commissioning of other mines and the creation of new jobs.

Ali Aliyev, Chief of the National Geological Exploration Service of the Ministry of Ecology and Natural Resources, spoke about the accomplishments of AzerGold to increase the efficiency of geological exploration and production over the past five years. Ali Aliyev praised the 24-fold increase in non-ferrous metal resources in accordance with accepted international standards in the fields launched as a result of research work carried out by the Company.

Next, Shahbaddin Musayev, Head of the Geology Department of AzerGold CJSC, Agamahmud Samadov, one of the first explorers of the Galaba polymetallic ores discovered in the Zagatala-Balakan ore region, and other senior geologists made speeches at the event. The participants also watched a video about the company's activities and exchanged views on the current state of mining industry in Azerbaijan.

At the end of the event, on the occasion of the 5th anniversary of AzerGold CJSC, recognition letters and various souvenirs were presented to old geologists for their active cooperation with the Company over the years.