Memorandum of Understanding on Cooperation in the Mining Sector Signed Between Azerbaijan and the Kingdom of Eswatini

On May 20, a Memorandum of Understanding (MoU) on cooperation aimed at promoting the development of the mining industry was signed between the Republic of Azerbaijan and the Kingdom of Eswatini.

On behalf of the Republic of Azerbaijan, the document was signed by Zakir Ibrahimov, Chairman of the Board of "AzerGold" Closed Joint Stock Company (CJSC), and on behalf of the Kingdom of Eswatini, by His Royal Highness Prince Lonkhokhela, Minister of Natural Resources and Energy.

The bilateral cooperation document covers areas such as mining industry development, geological exploration, technical cooperation, and investment opportunities, opening up new prospects for both sides. According to the Memorandum, "AzerGold" CJSC and the Ministry of Natural Resources and Energy of the Kingdom of Eswatini will cooperate in the exchange of geological, commercial, and regulatory data, geological exploration, laboratory testing, mineral resource evaluation, and the implementation of feasibility studies.

Furthermore, within the framework of the Memorandum, the parties will work towards reviewing potential joint projects, investment models, and service contracts. In accordance with the document, the establishment of joint working groups, organization of reciprocal site visits, exchange of information and experience, exploration of opportunities for establishing new business relations, as well as the organization of conferences, seminars, and other joint events are envisioned.

The signed Memorandum will serve to deepen cooperation between the two countries and develop a long-term partnership in the mining sector.