AzerGold to conduct exploration work in Guinea-Bissau

On December 2, Zakir Ibrahimov, Chairman of the Executive Board of AzerGold CJSC, met with the delegation led by Carlos Pinto Pereira, Minister of Foreign Affairs, International Cooperation and Communities of the Republic of Guinea-Bissau, and with Viriato Cassama, Minister of Environment, Biodiversity and Climate Action of the Republic of Guinea-Bissau.

Zakir Ibrahimov informed the delegation about the achievements of AzerGold CJSC, the strategic plans of the Company, and the activities for increasing economic efficiency in the mining sector, as well as environmental protection and social responsibility in accordance with the requirements of local and international legislation.
Mr Chairman noted AzerGold’s successful cooperation experience with foreign partners and said that the strategic plans of the Company included expansion of activities beyond the borders of Azerbaijan in future. He highlighted that Africa, which is rich in mineral resources, is also in the focus of attention.

Carlos Pinto Pereira, Minister of Foreign Affairs, International Cooperation and Communities of the Republic of Guinea-Bissau, mentioned that they were interested in strengthening bilaterial relations, and spoke about the current opportunities in the mining sector for investors.

The mining industry is at the initial stage of development, and we would be glad to benefit from the experience of AzerGold CJSC, said Viriato Cassama, Minister of Environment, Biodiversity and Climate Action of the Republic of Guinea-Bissau. Mr Minister said that the latest geological map of Guinea-Bissau was prepared by specialists from the former USSR in the 1970s and noted the importance of detecting promising areas by modern research methods.

Considering the experience of AzerGold CJSC on innovative geological research and development methods, the Parties exchanged views on establishing cooperation in this field. During the meeting, the Parties agreed on assessment of existing promising areas in the territory of Guinea-Bissau by AzerGold CJSC. To this end, AzerGold should realize mapping, hyperspectral satellite imaging – a non-invasive research method – through the territory of Guinea-Bissau, including data analysis, preliminary geological exploration work.

It was noted that the Azerbaijani company is ready to assess initiatives on exploitation of discovered gold mines in future, based on its experience in this sphere.
At the end of the meeting, a Non-Disclosure Agreement was signed between Zakir Ibrahimov, Chairman of the Executive Board of AzerGold CJSC, and Viriato Cassama, Minister of Environment, Biodiversity and Climate Action of the Republic of Guinea-Bissau.