Working group of AzerGold CJSC inspected the mines in Gedebey within the Production Sharing Contract

Gedebey, Gosha, Kharkhar, Garadagh and Ordubad groups (Piyazbashi, Aghyurd, Shekerdara, Keleki) of AzerGold CJSC organized preliminary visits within the framework of contract performance between AzerGold CJSC and R.V. Investment Group Services LLC on exploration and production sharing of prospective gold, copper and polymetallic ore deposits of Gizilbulag, Demirli and Vejnali.

The main goal is to get acquainted with the corporate social responsibilities and activities in other directions, management of mines in the contract areas, geological exploration, production, environmental protection, and to improve the mining activities of Azerbaijan International Mining Company Ltd. (AIMC), preparing proposals for the performance of the Contract in accordance with the requirements, to support the process and take necessary measures.

For this purpose, the working group of AzerGold CJSC visited the Gedebey contract area, which is the only active operation area of ​​the foreign company. A meeting was held between the representatives of AzerGold and AIMC, information was given about the activities of the foreign operator and its production methods, production technologies, etc. and ideas were exchanged for further development within the visit.

Furthermore, Gedebey, Qadir, Zafar, Ughur and Gilar gold, silver, copper deposits, as well as production plants, wet waste storage, laboratory and other infrastructure facilities, included in the Gedebey contract area were visited.

It was noted that AIMC, which has the right to work in eight contract areas, is currently extracting out ores in the mines located at Gedebey contract area applying open-pit and underground mining methods. After sorting out the extracted ores depending on their metal content, they are processed in gold or copper processing areas located in the region.

In addition, the working group members visited the Garadagh, Gizilbulag and Demirli ore deposits, which are at the geological research preparation and exploitation stages.

During the visits, the working group members took some notes to include in the final report and consider in the Action Plan of the partnership under the Contract.

At the following stages, necessary measures will be taken by AzerGold CJSC during the mining operations in the contract areas to meet the contract requirements and at the same time, support will be provided to the cooperation of the foreign company with the government authorities, and regular monitoring will be provided at the contract areas.

For your information, the Production Sharing Contract was signed on 20 August 1997 between Azergizil State Company of the Republic of Azerbaijan and R.V. Investment Group Services LLC. From 22 January 2000 until the new amendment to the Contract, because of the liquidation of Azergizil, the Ministry of Ecology and Natural Resources was considered the legal successor of Azergizil for the obligations arising from the Contract. The authority to represent the state in connection with the contract performance was given to AzerGold CJSC according to the Law of the Republic of Azerbaijan dated 21 June 2024 and numbered 1176-VIQ.