Baku, Tashkent to decide by 2027 on joint precious metals exploration in Uzbekistan

BAKU. May 4 (Interfax) - Uzbekistan and Azerbaijan plan to make a decision by the end of 2026 on launching joint geological exploration at precious metal deposits in the Central Asian country, Uzbek Deputy Mining Industry and Geology Minister Ural Yusupov said.

"We have begun active joint work with the Azerbaijani company AzerGold on geological exploration in the territory of the Republic of Uzbekistan. Currently, documentation is being reviewed. I believe that by the end of the year, we will make a decision on jointly conducting geological exploration work at precious metal deposits - gold and silver," Yusupov said in an interview with Azerbaijani news agency Report.

Uzbekistan has also "proposed that our partners consider projects for the extraction of critically important metals," he added.

"At the current stage, we are studying the potential of precious metal deposits in the Kashkadarya and Surkhandarya regions, as well as critical materials in the Republic of Karakalpakstan and Jizzakh region," Yusupov said.

AzerGold CEO Zakir Ibrahimov said in February that the company was interested in participating in foreign gold mining projects and was considering Uzbekistan and Kazakhstan as potential countries to work with.

AzerGold, which was established by a decree issued by President Ilham Aliyev in 2015, is engaged in studying, surveying, exploring, developing and managing gold and iron ore deposits in the Garadag, Chovdar, Heydag, Dagkesemen and Kohnemeden areas and in the Kuryakchay basin.