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AzerGold has registered a subsidiary in Uzbekistan to develop the Akba gold deposit

The company will study the Akba gold deposit in the Kashkadarya region, whose reserves are estimated at more than 13 tons of gold. After obtaining a license, geological exploration work is planned to begin for a period of 18 months.

At present, AzerGold is obtaining the necessary permits. After receiving the license, based on the relevant decision of the Government of Uzbekistan, the company plans to begin geological exploration work.

During this time, specialists will study the available geological data, conduct additional exploration, and assess mineral resources according to international JORC standards.

In addition, metallurgical tests, an assessment of the project`s environmental impact, and the study of possible ore mining and processing technologies are planned.

Based on the results of the studies, a feasibility study (FS) will be prepared, which will make it possible to determine the viability of industrial development of the deposit.

On this basis, AzerGold will formulate an investment proposal and present it to the relevant government agencies of Uzbekistan.

According to JSC Uzbekgeolgozvedka, in 2025 more than 13 tons of industrial gold reserves were calculated and placed on the state balance at the Akba deposit. At the same time, further geological exploration may reveal additional reserves of up to 50 tons.

The legal basis for cooperation was created by a framework agreement on the joint development of the deposit, signed on June 17, 2026, between AzerGold and the Ministry of Mining Industry and Geology of Uzbekistan.

AzerGold is also working on creating a joint venture for geological exploration of promising areas between the cities of Navoi and Nurata.

The relevant trilateral agreement was signed on July 17 between AzerGold, JSC Uzbekgeolgozvedka, and the Azerbaijan-Uzbekistan Investment Company.

At present, the partners are coordinating the founding documents and obtaining the necessary permits. After the company is established, it is planned to gradually begin geological studies. A plan for exploration work and financing for the first two years has already been prepared for the project.

If the studies confirm the presence of economically viable mineral reserves, the parties will consider the possibility of joint development of the deposits and implementation of investment projects.

In addition, the companies are discussing expanding cooperation in geological exploration and the development of other promising deposits in Uzbekistan and Azerbaijan.

AzerGold is the state mining company of Azerbaijan, engaged in geological study, exploration, development of deposits, and production of precious metals. The enterprise registered in Uzbekistan became its first foreign subsidiary.

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