AzerGold names goals for next 15 years

A new stage has begun in AzerGold CJSC after its transfer to the Azerbaijan Investment Holding.

Report informs that the company's Chairman of the Board Zakir Ibrahimov said it at a press conference on last year's results and the tasks ahead.

"Undoubtedly, this decision will further accelerate the development of AzerGold by stimulating the comprehensive, sustainable development of free market relations in the mining sector, based on new management principles. I am sure that as a result of collaboration with Azerbaijan Investment Holding, AzerGold's contribution to the national economy will increase even more," Ibrahimov said.

Zakir Ibrahimov stressed that one of the significant steps in AzerGold's activities last year was the approval of the company's corporate strategy for 2025 (medium-term) and 2035 (long-term) in order to ensure sustainable development of the non-ferrous metal ore mining sector. The main objectives of the company in the framework of the implementation of projects defined in the strategy are:

1. Transformation of the company into a large regional mining establishment with an annual turnover of $1 billion until 2035;

2. Entering the list of the largest mining companies in the region in the field of the non-oil industry and employers;

3. Elimination of dependence on the state budget in financing the implementation of strategic programs;

4. Active participation in the development of related sectors of the mining industry and jewelry industry through innovative tools;

5. Development of potential for entering the markets of neighboring countries.