Zakir Ibrahimov: AzerGold's annual turnover to reach AZN 1 billion by 2030

The main goal is to transform AzerGold CJSC into a state company with an annual turnover of 1 billion manats (over $588.2 million) by 2030, Zakir Ibrahimov, Chairman of the Board of AzerGold, stated at a meeting chaired by Azerbaijani President Ilham Aliyev dedicated to the "State Program on the Development of Mining (Metal Ores) and Metallurgical Industry in the Republic of Azerbaijan for 2027–2030," Report informs.

Ibrahimov noted that in 2024, AzerGold launched a full‑capacity alkalization plant built with revenues and funds attracted from local banks, enabling the processing of sulfide ores at the Chovdar deposit. From that year, AzerGold also began representing the state under the Production Sharing Agreement (PSA).

According to him, this year, AzerGold started operations at the Soyudlu (Zod) deposit, one of the largest gold deposits in the Caucasus, with stripping works already underway. At the same time, AzerGold was entrusted with operator status for non‑ore deposits.

Thus, within 10 years, AzerGold has evolved from a gold‑producing company into a multi‑profile, integrated national mining enterprise, covering geological exploration, non‑ferrous and ferrous metal ores, industrial explosives, and non‑ore fields, he said.

"At the next stage, our aim is to turn AzerGold into a state company with an annual turnover of 1 billion manats by 2030. Strategic projects will be financed through internal revenues, debt resources, and private investment. As a result, our main objective is to make AzerGold one of the largest companies in Azerbaijan's non‑oil industry in terms of income and employment," Ibrahimov emphasized.