AzerGold and the Institute of Geology and Geophysics sign a memorandum

A memorandum on cooperation (MoU) was signed between AzerGold and the Institute of Geology and Geophysics (IGG) of the Ministry of Science. The document was signed by Zakir Ibrahimov, Chairman of the Executive Board of AzerGold CJSC and IGG General Director, academician Akif Alizadeh.

The Memorandum represents a practical outcome of the strategic priorities outlined by President Ilham Aliyev on strengthening the role of science in the development of the economy and industry, voiced on the 80th anniversary of the Azerbaijan National Academy of Sciences. The document will advance cooperation between the scientific and industrial sectors of the two institutions to a qualitatively new level.

According to the Memorandum of Understanding, cooperation will focus on expanding scientific and technical collaboration, promoting innovative approaches in subsoil exploration, and conducting comprehensive geological and geophysical studies of noble, non-ferrous, and ferrous metal ore deposits. The document also provides for the strengthening of specialized human capital in the mining sector, as well as the organization of consulting and advanced technical training services.

The study and assessment of gold mineralization, particularly within the Karabakh and Eastern Zangazur economic regions are identified under the Memorandum as priority areas of cooperation. MoU further envisages conducting comparative mineralogical and geochemical analyses of regional gold deposits, as well as preparing modern geological and tectonic maps through the application of innovative technologies.

It should be noted that the first Memorandum of Understanding between AzerGold CJSC and the Institute of Geology and Geophysics was signed in 2016. Within the framework of that document, scientifically substantiated approaches were developed by the scientists of the institute on the prospects for the use of industrial waste in industry. The intellectual potential of the scientists and specialists of the institute was used as consultants in the implementation of the Company's exploration projects. Modern geological-genetic models for the country’s gold deposits have been developed and are currently being successfully applied by the geologists of AzerGold CJSC in forecasting and planning processes.