AzerGold, Uzbek Ministry of Mining Industry and Geology sign memorandum

Economy Materials 27 February 2023 15:32 (UTC +04:00)

BAKU, Azerbaijan, February 27. A Memorandum of Understanding and cooperation agreement was signed between Azerbaijan's AzerGold CJSC and the Uzbek Ministry of Mining Industry and Geology during the 1st Uzbek-Azerbaijani Interregional Forum in Uzbekistan's capital Tashkent, Trend reports.

The forum was held by Azerbaijan's Export and Investment Promotion Agency (AZPROMO) with the support of the Ministry of Investment, Industry, and Trade of Uzbekistan and the Ministry of Economy of Azerbaijan.

The document envisaging the establishment of cooperation in the field of exploration and development of gold deposits in Uzbekistan was signed by Zakir Ibrahimov, Chairman of the Management Board of AzerGold CJSC, and Azam Kadirhodjaev, Deputy Minister of Mining Industry and Geology of Uzbekistan.

According to the memorandum, AzerGold CJSC is expected to study existing geological data on precious metal ore deposits in Uzbekistan, attract experienced specialists to activities related to the exploration and development of gold deposits, provide mutual technical support, and prepare specific proposals for the implementation of projects.

Mutual delegation visits and discussions on institutional issues were conducted previously to evaluate the potential for collaboration between the two countries in the fields of mining and geology.

For instance, the delegation of AzerGold took part in the Uzbek-Azerbaijani Business Forum on June 20-22, 2022, and in the 16th International Exhibition on Mining, Metallurgical and Metalworking Industries on November 2-4, 2022. In addition, the delegation visited the capital of the country, Tashkent, in order to participate in the Mining of Uzbekistan and Central Asia Congress on December 13-14, 2022.

Moreover, a delegation headed by Deputy Prime Minister of Uzbekistan Jamshid Khodjaev visited the capital Baku, on December 23-24, 2022. As part of this visit, productive meetings were held between representatives of structures representing relevant areas. During the discussions, the prospects of cooperation in the field of exploration and extraction of non-ferrous and ferrous ores, the exchange of experience in the areas of innovation and modern technologies, training, and advanced training of personnel were considered, and an agreement was reached on preliminary areas of cooperation.

The parties expressed confidence that cooperation will be established between the Republic of Uzbekistan, one of the world's largest gold miners with extensive experience in this field, and AzerGold CJSC, which uses advanced technologies in the fields of mining and geology, with the goal of implementing joint projects on the territories of both countries.

To this end, the parties positively assessed the establishment of partnership relations in such areas of cooperation as those provided for at the initial stage of the Memorandum as exploration, research, and development of promising deposits in Uzbekistan, and, in the future, Azerbaijan as part of joint geological programs.