AzerGold discloses targets for Dashkasan iron ore deposits

AzerGold CJSC plans to earn about 5 billion manats from the operation of Dashkasan iron ore deposits by 2035, Zakir Ibrahimov, chairman of the company's board, told an event in Baku, entitled "Current problems, reforms and development prospects in the mining sector".

Active work is underway to prepare a preliminary assessment document for the future development of the region's largest iron ore deposit complex in Dashkasan, he said.

"The major target of this project is to put into operation iron ore deposits in a short period of time and to meet the demand for raw materials for the production of high-quality metallurgical products that will replace scrap metal. It is planned to commission the Dashkasan iron ore deposits and through the iron production chain to receive 4.9 billion manats in revenue by contributing 6.8 billion manats to GDP by 2035, as well as paying 556 million manats in taxes and social transfers to the state budget. With the implementation of these projects, the number of direct and indirect jobs (taking into account the multiplier factor) is expected to increase to 3,300 people," Ibrahimov said.