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Azerbaijani AzerGold's affiliate to fund development of ore deposits

Finance Materials 6 September 2022 17:30
Baku, Azerbaijan Trend News Agency
Azerbaijani AzerGold's affiliate to fund development of ore deposits

Azerbaijan’s Dashkasan Damir Filiz LLC, a subsidiary of AzerGold CJSC, will allocate funds to conduct mineralogical, mechanical tests and chemical analyses in laboratory conditions for subsequent exploration drilling at the Dashkasan group of ore deposits, Trend reports via the public procurement portal (https://etender.gov.az/).

According to the portal, 2.45 million manat ($1.44 million) will be allocated to pay for the above services.

The subsidiary company has signed a corresponding contract with Buro Veritas Azeri LLC.

AzerGold CJSC plans to start production of iron ore concentrate at the Dashkasan group of ore deposits at the end of this year.

Besides, in 2024, the CJSC plans to start DRI (direct reduced iron) ore production.

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