AzerGold CJSC Held the Next Meeting of the Steering Committee on the Production Sharing Agreement

AzerGold CJSC and R.V. Investment Group Services LLC, USA, held the next meeting of the Steering Committee on the Production Sharing Agreement.

At the meeting chaired by the Chairman of the Steering Committee and Deputy Chairman of AzerGold CJSC’s Board, Khayyam Farzaliyev, the agenda issues related to activity in the agreement areas were discussed.

At the meeting, the work done as part of the action plan for the Gadabay agreement area was first discussed, proposals on infrastructure projects to be implemented in connection with operations at the deposit were reviewed, and respective decisions were made.

Measures implemented after the authority to represent the state under the Agreement was delegated to AzerGold CJSC as part of preparation for the operation in other agreement areas, based on the requirements of the local law and international standards, were also reviewed, and the planned activity for the upcoming period was discussed.

It should be noted that the Steering Committee managing the project under the Production Sharing Agreement is composed of authorized representatives of AzerGold CJSC, the Ministry of Economy, the Ministry of Ecology and Natural Resources, and R.V. Investment Group Services, LLC.

Recall that according to Law No. 1176-VIQ of the Republic of Azerbaijan dated June 21, 2024, the authority to represent the state under the Agreement for Exploration, Development, and Production Sharing for the Prospective Gold, Copper, and Polymetallic Ore Mining Areas: Gadabay, Gosha, Kharkhar, Garadagh, Ordubad Group (Piyazbashi, Aghyurd, Shakardara, Kalaki), Gizilbulag, Damirli, and Vezhnali was delegated to AzerGold CJSC.