AzerGold plans to become largest mining company in region by 2035


September 16, Fineko/abc.az. Gold producer AzerGold expects an average annual revenue growth rate of 14% in the long-term prospect and plans to turn into the largest mining company of regional scale by 2035.

"To ensure sustainable development in the field of non-ferrous metals mining in Azerbaijan, AzerGold has developed a medium-term (until 2025) and long-term (until 2035) corporate development strategies. The main priority of the strategy is to turn AzerGold into the largest mining company of regional scale by 2035," AzerGold says.

According to the gold producer, within the medium- and long-term roadmaps it has defined strategic programs that provide for the development of gold-bearing, copper-zinc deposits and related industries, and expansion to international markets.

"It is predicted that the implementation of projects defined by the company's corporate strategy will increase Azerbaijan’s total GDP by $8.9 bn until 2035, allow the company to pay dividends to the State and attract more than 14,000 people to work in the most active phase of projects. The aggregate annual growth rate of AzerGold's income due to project implementation is projected at 14%. In 2009-2019, this indicator for the global mining industry was 9%," the company says.