Azerbaijan can play a major role in forming an effective supply chain on a regional basis, Chairman of the Board of AzerGold CJSC Zakir Ibrahimov said during his speech at a session titled “Critical Raw Materials and Global Economic Security” held as part of the Second Azerbaijan International Investment Forum, APA reports.
“We are currently conducting large-scale exploration work in the western regions of the country and Nakhchivan, thereby ensuring the process of studying geological potential,” he noted.
According to Zakir Ibrahimov, identifying mineral resources is only one part of the process, and their processing is also important for ensuring real supply security: “Therefore, Azerbaijan is working to establish a regional hub for critical minerals that will create significant opportunities for investors. Processing, logistics services, investment opportunities, and access to international markets will all be concentrated in one place.”
The AzerGold chairman emphasized the importance of attracting investors not only to extraction but also to processing: “We are not saying, ‘Come and carry out mining operations in Azerbaijan.’ We are saying, come and carry out processing together with us. Bring technology, processing expertise, and capital, and together let us create a regional platform that combines mining, processing, and reliable access.”
Zakir Ibrahimov noted that there are already practical results in this regard.
According to him, an agreement on exploration work in Nakhchivan was recently signed with US companies and the UAE company International Resources Holding.
“We have also signed agreements with Uzbekistan on joint exploration and extraction, followed by directing the ores to processing facilities in Azerbaijan, which will be used as a hub,” he said.
According to Zakir Ibrahimov, Azerbaijan’s location along the Middle Corridor creates opportunities for greater diversification and security for investors and global markets.
He added that Azerbaijan is ready to add value to the global and regional critical metals supply chain.
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