BAKU, Sept. 25 — Azerbaijan plans to establish a specialized critical minerals hub in Alat that would combine raw-material processing, logistics, investment facilities and access to global markets.
Zakir Ibrahimov, chairman of state mining company AzerGold, presented the project at the Azerbaijan International Investment Forum, according to Vesti Baku.
The hub’s territory is expected to receive special-zone status. The project is intended to attract investors not only to mineral extraction but also to domestic ore processing, allowing Azerbaijan to retain more value from its mineral resources.
Filizchay Resources
One of the hub’s potential resource bases is the Filizchay polymetallic deposit in northern Azerbaijan. AzerGold estimates that the deposit contains about 3 million metric tons of zinc, 500,000 tons of copper and more than 1 million tons of lead.
AzerGold plans to build a portfolio of innovative gold, copper and polymetallic mining projects by 2030. Large-scale geological exploration is underway in western Azerbaijan and the Nakhchivan exclave.
The company also reported agreements with U.S. and United Arab Emirates companies on exploration in Nakhchivan, along with cooperation with Uzbekistan on joint exploration and production followed by ore processing in Azerbaijan.