MP: Mining program to bring Azerbaijan over 1 billion manats a year

Implementation of the State Program for the Development of the Mining Industry for 2027-2030 is expected to increase the sector's annual financial impact in Azerbaijan to more than 1 billion manats ($588.2 million), MP Parvana Valiyeva told Report.

According to her, the program envisages the development of gold, copper and molybdenum deposits in Kalbajar, Aghdara and Zangilan, as well as the launch of geological exploration in the Nakhchivan Autonomous Republic next year.

The work will be carried out both by the state through AzerGold and by the private sector.

Valiyeva said President Ilham Aliyev had given instructions to establish a complete value chain, from raw material extraction to the production of finished goods.

"By 2030, aluminum production is planned to reach 100,000 tons. The implementation of these projects could make a significant contribution to strengthening Azerbaijan's non-oil sector," she said.

The MP noted that the launch of new enterprises is expected to increase tax revenues from the sector, boost export earnings and expand economic activity.

"According to preliminary forecasts, the projects are expected to generate an annual positive financial effect of more than 1 billion manats ($588.2 million). Additional revenues to the state budget could create opportunities for implementing new social packages," Valiyeva said.