Azerbaijan plans to invest 5.3 billion manats in its mining and metallurgy industries through 2030, with the program expected to generate more than 1 billion manats in annual financial benefits, President Ilham Aliyev said Tuesday.
Aliyev announced the figures and related directives at a Sept. 22 meeting on the state program for the sector’s development in 2027-2030.
Exports Targeted to Reach 3.4 Billion Manats
Projections presented at the meeting call for the mining and metallurgy sector’s contribution to gross domestic product to rise from 700 million manats to 1.8 billion manats. Annual export potential is expected to increase from 1.3 billion manats to 3.4 billion manats.
Aliyev said the program should create more than 5,000 permanent jobs. He said financing had been agreed and that the state would carry out the projects regardless of private investors’ participation, while keeping the market open to domestic and foreign capital.
The president also ordered officials to raise aluminum production to 100,000 tons by the end of 2030. The plan calls for building several facilities and expanding domestic processing so Azerbaijan exports higher-value products rather than raw ore.
New Mines and Plants Planned
Officials plan to accelerate development of gold, copper and molybdenum deposits in the Kalbajar, Aghdara and Zangilan districts. The reserves are to be reassessed using modern methods because earlier estimates are about 40 years old.
Geological exploration in Nakhchivan is scheduled to begin in 2027. Aliyev also addressed the Filizchay polymetallic deposit in the Balakan district, saying AzerGold should initially remain its sole shareholder. Foreign investors could be brought in later, after the project’s value has increased.
The Western Industrial Park is planned to include a full production chain, from mining and ore enrichment to pellets and hot-briquetted iron. Preferential transport rates may be introduced for those cargoes.
Environmental Compliance Required
Aliyev called for the most rigorous possible environmental assessment of the projects and warned that foreign partners would face penalties if they failed to comply with environmental standards. He said the same requirements must apply to state-owned AzerGold.
The meeting also heard that Azerbaijan’s economy grew 1.2% in the first eight months of 2026, while the non-oil sector expanded 5.4%. Aliyev attributed the slower overall rate to the natural decline in production at the Azeri-Chirag-Gunashli oil fields and said he hoped new oil projects would help stabilize output.
Details of the program were published in a full report by Report and in coverage by APA.