AzerGold & Ministry of Mining and Geology of Uzbekistan ink memorandum

A Memorandum of Understanding and Agreement on cooperation was signed between AzerGold CJSC and the Ministry of Mining and Geology of Uzbekistan, Azernews reports, citing the company.

The memorandum was signed within the framework of the 1st Uzbekistan-Azerbaijan Interregional Forum organized in Tashkent, by the Export and Investment Promotion Agency (AZPROMO), and with the support of the Ministry of Investments, Industry and Trade of Uzbekistan and the Ministry of Economy of Azerbaijan.

According to the company, the memorandum includes the establishment of joint cooperation in the field of geological exploration and development of discovered gold deposits in Uzbekistan. The document was signed by the chairman of AzerGold, Zakir Ibrahimov, and the deputy minister of Mining and Geology, Azam Kadirkhojayev.

“In accordance with the memorandum, AzerGold CJSC plans to study existing geological information about the areas of occurrence of noble metal ore in Uzbekistan, involving experienced specialists in activities related to research and development of gold deposits, to provide mutual technical support, and to prepare concrete proposals for the implementation of projects,” AzerGold said.

Noting that in order to evaluate the possibilities of joint cooperation between the two countries in the field of mining and geology, mutual visits of the delegations were carried out and discussions were held on institutional issues before.

During the discussions, the prospects of cooperation in the field of exploration and production of non-ferrous and ferrous metal ore deposits, exchange of experience on innovation and modern technologies, personnel training, and professional development were considered, and an agreement was reached on the initial directions of cooperation.

The parties expressed confidence that a mutually beneficial cooperation will be established between the Republic of Uzbekistan, which is one of the world's largest gold producers and has rich experience in this field, and AzerGold CJSC, which applies advanced technologies in the field of mining and geology, in the direction of implementing joint projects in both countries.

For this purpose, at the initial stage, the parties positively evaluated the establishment of partnership relations regarding conducting exploration and prospecting works, studying and developing prospective fields within the framework of joint geological programs in the territory of Uzbekistan, and in the future in Azerbaijan, in the directions of cooperation provided for in the memorandum.