BAKU, Azerbaijan, Dec. 14
By Khagan Isayev - Trend:
Azerbaijan’s AzerGold CJSC seeks to become one of the biggest non-oil companies with an annual turnover worth $1 billion by 2035 through the exploitation of six more gold deposits, a polymetallic deposit, three copper deposits and an iron ore deposit, including the sulfide phase of the Chovdar gold deposit, Chairman of the board of the company Zakir Ibrahimov said at the event entitled "Current problems, reforms, and prospects for the development of the mining industry" in Baku, Trend reports.
“Thus, the number of jobs is expected to reach 13,000 by 2032,” Ibrahimov said. “According to the renewed strategy, the total revenues of our company by 2035 are expected to reach 18.5 billion manat ($10.9 billion).”
The chairman said that the company plans to contribute 24.5 billion manat ($14.4 billion) to the country's GDP and pay general taxes (direct and indirect) in the amount of 1.7 billion manat ($1 billion).
“Moreover, we plan to eliminate dependence on the state budget during the implementation of strategic programs,” Ibrahimov said. “I would like to emphasize that the company has already eliminated dependence on the state budget during the implementation of the projects related to gold mining.”
AzerGold CJSC was established upon the order of Azerbaijani President Ilham Aliyev dated February 11, 2015. The company works to explore and develop the deposits of precious and non-ferrous metals in the country. The company is also engaged in the extraction, processing, and trade of precious metals.