"The next direction is the “Filizchay” polymetallic deposit located in the Balakan district, considered one of the most promising deposits on the European continent," said President Ilham Aliyev during a meeting dedicated to the State Program on the development of the mining and metallurgical industry, APA reports.
"As I mentioned, this deposit holds great potential, and for several years now, “AzerGold” has been carrying out work to prepare it for operation. I believe that the feasibility study should be ready soon, and the final investment decision must also be adopted. I consider that “AzerGold” should be the 100 percent shareholder of this deposit. As operations proceed, the price and value of this deposit will naturally rise. Then we can review it. It is possible that, at a certain percentage level—if there is interest, which I am certain there will be—foreign investors could also be attracted to this deposit," the head od state emphasized.
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