Baku: Zakir Ibrahimov, Chairman of the Executive Board of AzerGold CJSC, met with a delegation led by Malcolm Forbes-Cable, Vice President of the international consulting firm Wood Mackenzie. During the meeting, discussions revolved around AzerGold's strategic development priorities, production increases, and plans for accessing international markets. It was highlighted that new deposits are expected to be commissioned in the coming years, with a new production phase anticipated to start in 2028. The meeting also emphasized the importance of strengthening human capital and integrating international experience as key goals for AzerGold.
According to Azerbaijan State News Agency, AzerGold aims to prioritize international expansion in the long term, showing interest in foreign projects, particularly in gold and potentially copper deposits. The company is focusing on countries with stable investment climates and clear legal frameworks, with a preference for "brownfield" projects that already possess infrastructure and production bases. Central Asian countries such as Uzbekistan and Kazakhstan were identified as potential partners for cooperation. Initial discussions in African countries have been cautious due to political and institutional risks in some regions.
Malcolm Forbes-Cable shared insights into Wood Mackenzie's global experience in the mining industry, energy, oil and gas, and investment strategies. The meeting provided information on projects aimed at improving legislation in the mining sector and increasing investment attractiveness in various countries. Both parties also exchanged views on applying international experience in Azerbaijan's mining sector, utilizing benchmarking tools, and enhancing competitiveness. They agreed to continue discussions on issues of mutual interest.