“Azergold” Cjsc
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“AZERGOLD” CJSC “AzerGold” Closed Joint-Stock Company was established according to the Decree of the President of the Republic of Azerbaijan Mr. Ilham Aliyev № 1047 dated February 11, 2015. The main objective of the Company is the study, research, exploration, management, as well as extraction, processing and sale of precious and non-ferrous metal ore deposits, implementation of new technologies in this field, modernization and efficient use of material and technical base, performance of other activities related to the development of the industry. OUR MISSION Turning natural resources into social well-being and sustainable development OUR VISION Becoming a leading mining company in Azerbaijan and beyond the country borders OUR VALUES • Environmental and Social Responsibility • Transparency • Cooperation • Innovation OUR OBJECTIVES • Development of mining industry • Development of adjacent areas related to mining production • Development of external relations and income increase As a result of Armenian agression 20% of the internationally recognized territory of Azerbaijan is under Armenian occupation NON-FERROUS METAL DEPOSITES OF AZERBAIJAN REPUBLIC CHOVDAR Chovdar Ore Processing Area is a perspective area with particular and complex gold deposits located in the northern part of Dashkasan region. In this area, there are known 30 particular gold, 20 low sulphide-bearing copper-gold, 50 copper-polymetallic occurrences and mineralization points, including Chovdar gold mine. The extraction at the mine commenced in 2012. Agyokhush and Marakh areas. Aghyokhush was discovered in 2018 by “AzerGold” CJSC. Potential ore reserves of the deposit are estimated as 100 thousand ounces of gold. Currently, the area is under drilling- excavation works towards evaluation of available reserves. Preliminary exploration works in Marah field has delivered positive results. Currently, exploration works are ongoing towards estimation and confirmation of reserves available in the field. Adjacent location of the fields to Chovdar Ore Processing Area ensures economic efficiency of processing the ores extracted from this field. Tulallar area. The drilling-excavation works carried out jointly by the Ministry of Ecology and Natural Resources and “AzerGold” CJSC on the northern part of the deposit to estimate probable reserves. At the next stage, “AzerGold” CJSC continued drilling works on the southern part of field . According to the estimation by International consulting company, probable ore reserves of the field are 500 thousand ounces. Currently, the actions towards confirmation of reserves are under completion. The equipment and facilities in Chovdar Ore Processing Area are planned to be used for ore processing activities. KOHNAMADAN Filizchay and Mazimchay are the biggest mine deposits of Kohnamadan. OUR PROJECTS Filizchay deposite is considered as the second reserves. The deposit is under geophysical investi- largest deposit in Europe and included in top 10 of gations. polymetallic deposits over the world in terms of the volume of reserves. Preliminary investigation in the GOYDAGH area was carried out based on NI 43-101 standards. Ortakand-Khanagha field located in Nakhchivan The deposit reserves which include gold, silver, Autonomous Republic Area constitutes a part of copper, zinc and lead are estimated as 59.9 mln. tons Goydagh-Alindzha ore junction and is for the first phase. Zinc ore in the deposit prevails distinguished for the potential perspective in terms any other reserves and its average indicator is 4.27%. of detection of particular gold, complex copper- Based on the results of the prospective investigation porphyry, epithermal sulphide ores. Ortakand works, the reserves in the deposit are due to increase copper-porphyry deposits, Bashkand-Khanagha up to 120 million tons. Mazimchay deposit is splattered gold deposits, Bashkand copper and located in the vicinity of 2.5-3.0 km of Filizchay Ortakand-Khanagha basic gold occurrences, deposit. With 414.4 thousand tons of estimated several polymetallic mineralization points and resources, middle-scale Mazimchay deposit ores outcrops were detected within the area. Currently, mainly consist of copper. the area is under large-scale complex geological- exploration works, as well as the drilling-excavation QARADAGH works. Garadagh deposit is located in the southern moun- tainous part of Shamkir region, adjacent to DAGHKASAMAN Chanlibel settlement. The geological-technical- Daghkasaman ore field encompasses Gazakh- economic potential of Garadagh deposit was Agstafa region of the Republic and is included in preliminarily assessed in accordance with western Gazakh lowlands in terms of geological structural standards. The volume of approved ore reserves of composition. This region is considered as perspec- deposit constitutes 70,0 mln.tons, while 400-500 tive in terms of detection of gold and gold-type thousand tons of which are copper reserves. polymetallic deposits. Daghkasaman gold deposit is located within the field, which is included in Field KURAKCHAY Balance on Mineral Resources Reserves. Alongside, Kurakchay area was always in the focus and attrac- the area contains copper-gold occurrences and tive in the historical context of geological studies in several mineralization points, such as Uchgol and terms of detection of noble and non-ferrous metal Farahli which have not been assessed yet. deposits due to the presence of splattered gold deposits, several occurrences and mineralization OTHER AREAS points in the north-eastern slope of Lesser Caucasus. Apart the contract locations shown above, the Kapaz area was discovered in 1998. Copper-gold Company operates some other non-ferrous and area have been in the spotlight for the volume of the precious metal ore deposits across the country. CHOVDAR ORE PROCESSING AREA CHOVDAR ORE PROCESSING AREA IS LOCATED NEAR CHOVDAR VILLAGE IN DASHKASAN REGION OF AZERBAIJAN. THE MINE WAS DISCOVERED IN 1998. THE PRODUCTION WAS LAUNCHED IN 2012. CHOVDAR MINING ACTIVITY CONSISTS OF TWO MAIN PHASES: OXIDE PHASE AND SULPHIDE PHASE. OXIDE (SURFACE) PHASE: • The production was launched in 2012 and is deemed to continue until 2021; • The ores are extracted by using heap leaching process and the open-pit technique; • “AzerGold” CJSC cooperates with an internationally reputable Swiss Company “Argor-Heraeus SA” for the purpose of refinery and sale of non-ferrous bullions processed during the oxide ores exploitation phase; • 233 000 ounces of gold and 349 500 ounces of silver will be produced within the oxide phase, which means $285 million US dollars profit. SULPHIDE (UNDERGROUND) PHASE: • The phase is deemed to cover 2024-2032 years; • Probable reserves have been calculated as 320 thousand ounces of gold equivalent; • Definitive Feasibility Study is carried out by a well-known consulting company and planned to be completed by the end of 2020; • Geophysical and drilling operations are ongoing in near and far flanks of the deposit. CHOVDAR ORE PROCESSING AREA 90% of the staff involved in the processing area are local residents. Around 582 500 ounces of precious metals to be extracted by the end of Oxide Phase. Total number of working hours without any occupational injury has been 1 500 000 during the operation period. STRATEGIC ROAD MAP DEVELOPMENT FOR THE PURPOSE OF CONTRIBUTION TO THE STUDY, RESEARCH, EXPLORATION, MANAGEMENT, AS WELL AS EXTRACTION, PROCESSING AND SALE OF PRECIOUS AND NON-FERROUS METAL ORE DEPOSITS, IMPLEMENTATION OF NEW TECHNOLOGIES IN THIS FIELD, MODERNIZATION AND EFFICIENT USE OF MATERIAL AND TECHNICAL BASE “AZERGOLD” CJSC IS DEVELOPING ITS “STRATEGIC ROAD MAP”. OBJECTIVES: Prioritizing the strategic opportunities for “AzerGold” CJSC; Studying the impacts of ongoing projects, strategic road maps, state programs, economic development indicators of the Republic on the Company’s operation and considering them in the preparation of future development concepts; Evaluating the ore reserves of the country in accordance with modern stan- dards; Developing the plans for the production of reserves and involving foreign investments. WORKS TO BE IMPLEMENTED Identifying the key interested parties in the industry and the objectives of the project; Assessing the attractiveness of the structured market; Approximating main financial and operational indicators about the activi- ties (five-year and fifteen-year plan) carried out by the Company; Establishing the financial model about the business activity of “AzerGold” CJSC, in order to evaluate the potential value and contribution from various initiatives of the Company; Digitalizing the data about non-ferrous metal ore deposits archived since former Soviet period; Estimating the economic efficiency of the resources and ranking the deposits. SOCIAL RESPONSIBILITY SOCIAL RESPONSIBILITY IS A CORE VALUE OF “AZERGOLD” CJSC. WE ARE RESPONSIBLE FOR THE DEVELOPMENT AND APPLICATION OF SOCIAL RESPONSIBILITY POLICY IN ALL THE AREAS OF OUR ACTIVITY. OUR SOCIAL POLICY APPROACH TARGETS COMPREHENSIVE IMPACT ASSESSMENT OF COMPANY’S MINING PROJECTS ON LOCAL COMMUNITIES AND ENVIRONMENT, IDENTIFICATION OF POSSIBLE SOCIAL RISKS AND DEVELOPMENT OF ADEQUATE SOCIAL RESPONSIBILITY STRATEGY. ENVIRONMENTAL POLICY • Minimizing the environmental impacts during the exploration, extraction and production process; • Implementing the regular dust measurement works and analysis of the samples taken from the earth, water basins and reservoirs in accordance with monitoring program; • Carrying out the management of all kinds of wastes released as a result