New Nickel, Copper, and Gold Reserves Found in Azerbaijan
Azerbaijan, Baku/ Trend , corr. S. Babayeva/ Husseyn Baghirov, has said today that new reserves of copper and nickel have been recently found on the territory of Azerbaijan.
According to him, that has become known following the prospecting works recently carried out in the Big Caucasus. The high concentration of nickel and copper was found on these territories.
According to the Azerbaijani Minister, there are grounds that make us suggest that there is are gold mines on the territory of Oghuz District of Azerbaijan as well.
Mr. Baghirov said that negotiations with corresponding companies on the development of these deposits are currently underway. A contract is likely to be signed as well.
R.V. Investment Group Services LLC, which signed a PSA-type contract with the Azerbaijani Government, has a contract on development of gold mines in the country. The mentioned contract envisages the development of the six deposits on the South-West of Azerbaijan - Gadabay, Ordubad, Gosha Bulag, Gizil Bulag, Vajnali, and Soyutlu.
49% of the share holding in the development of the mentioned deposits belongs to RV Investment, 51% - to the Azerbaijani Government in the person of the Ecology and Natural Resources Ministry. However, the gold-mining on the deposits has not been launched yet.
According to Mr. Baghirov, the process on formation of a corresponding Committee to be engaged in governing the project.
"As soon as we found the Committee, we shall get more concrete possibilities to govern the process," he said.