Azerbaijan is ready to responsibly develop its critical mineral potential, Minister of Ecology and Natural Resources of Azerbaijan Rashad Ismayilov stated during his speech at a session titled “Critical Raw Materials and Global Economic Security,” held as part of the Second Azerbaijan International Investment Forum in Baku, APA reports.
“During COP29 held in Baku, the future of these minerals, which are essential for the energy transition, was at the center of international discussions. The global initiatives adopted during the event envisaged, in particular, a sixfold increase in energy storage capacity by 2030, as well as the creation and modernization of large-scale electricity grids.”
The minister emphasized that the large-scale restoration and reconstruction work being carried out in Karabakh and Eastern Zangezur has created new opportunities for the efficient use of mineral resources:
“The roads, energy and water infrastructure being restored and reconstructed are creating a solid foundation for the development of production projects. It is precisely through this comprehensive approach that we view the involvement of deposits in the Karabakh and Eastern Zangezur economic regions in economic circulation.”
Rashad Ismayilov added that, while contributing to employment and exports, every project implemented must also be aligned with restoration plans, water resources, and the sensitivity of ecosystems.
“Ensuring access for extracted mineral raw materials and processed products to global markets is also an important condition. Azerbaijan’s location along the strategic Middle Corridor provides our country and our partners with additional advantages in terms of diversifying transportation routes and expanding regional cooperation,” the minister said.
The minister noted that technical cooperation with international partners can directly contribute to organizing cleaner production, applying advanced industrial standards, and developing local skills.
“Azerbaijan is ready to responsibly develop its critical mineral potential, create added value domestically, and contribute to the resilience of global supply. Our main expectations from the forum are the application of modern approaches in the mining industry, the establishment of reliable and long-term partnerships, as well as increased investment in this sector, including in the liberated territories,” Rashad Ismayilov emphasized.
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