The draft law "On the adoption and approval of the Agreement on the restoration, exploration, development and production sharing of the Soyudlu (Zod) gold deposit, and on granting permission for its implementation" will be discussed at the session of the Milli Majlis to be held on December 27, APA reports.
"Agreement on the restoration, exploration, development and production sharing of the Soyudlu (Zod) gold deposit" was signed in Baku on December 10 this year between "AzerGold" Closed Joint Stock Company and "Asian Mining Holding FZ" LLC and AzerGold's Partner Company.
After the entry into force of this Law, all other rights and obligations that may be granted by any previously concluded agreement, contract or other such document regarding any part of the contract area envisaged in the Agreement shall be terminated. Also, after the entry into force of this Law, the participants in the Agreement shall be granted the exclusive right to carry out Works in the contract area in accordance with the terms of the Agreement and the Annexes and for the period of their validity.
The Parties to the Agreement shall be granted all necessary licenses, customs permits, visas, other powers and sanctions to fulfill the rights and obligations arising from the Agreement.
Any additions, amendments, and changes to the Agreement or its annexes shall be made only with the written consent of the parties to the Agreement and the Annexes.
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