President Ilham Aliyev signs a decree on ore fields

Several ore fields and deposits are going to be studied in Azerbaijan. Azerbaijani President Ilham Aliyev signed a decree, which stipulates taking definite measures for study, research, exploration and development of Garadagh, Chovdar, Goydagh, Dagkasaman ore fields, Kohnamadan field and deposits of Kurakchay Basin.

The Ministry of Ecology and Natural Resources, the Ministry of Economy and “AzerGold” CJSC have been instructed to take necessary actions regarding purchase of the participation shares, belonging to contractors under the agreement, by “AzerGold” CJSC and inform the President on the results of the measures taken. In the meantime, the Ministry of Economy, the Ministry of Finance, the Central Bank of Azerbaijan (CBA) and “AzerGold” CJSC have been commissioned to submit proposals on financing the purchase of the contractor’s participation shares by the Company to the President of Azerbaijan within two months. The Ministry of Ecology and Natural Resources shall terminate the agreement by mutual consent after the purchase is complete.