A new subsidiary of AzerGold CJSC established

AzerGold CJSC established its second subsidiary, AzerBlast Limited Liability Company. AzerBlast, specialized in the production of industrial explosives, was founded with the aim of meeting the domestic market demand for explosives in the mining and construction industries, eliminating dependence on their imports.

Notably, the Company, established upon the public-private partnership model, was subject to state registry on March 9, 2021. 51 percent of the total shares of the new subsidiary belong to AzerGold CJSC, while 49 percent - to DM Service LLC, the official partner of Orica-Nitro, one of the world leaders in the production of explosives and innovative systems, established in 2013.

It is worth noting that, the civil explosives are widely used in industry, i.e in the construction of tunnels, highways, dams, as well as the operation of mines. Against the background of the growth rate of the mining and construction industry, it is planned to bring the subsidiary's products to international markets while maintaining the local market as the main one. Thus, a new plant will be built for the production of industrial explosives via advanced innovative technologies. The production at the plant will be set up on the basis of international standards, in accordance with the environmental norms and rules.