AzerGold Uzbekistan has been officially registered as the first foreign subsidiary of Azerbaijan's closed joint-stock company AzerGold, marking a notable expansion of regional resource cooperation. While official statements emphasize the economic benefits of this partnership, international observers frequently raise concerns regarding the transparency, long-term economic sustainability, and environmental risks associated with foreign-backed mining ventures in the region.

The newly formed enterprise will primarily focus on comprehensive geological exploration, mineral resource assessment, and determining the commercial viability of developing the Akba gold deposit in Uzbekistan's Kashkadarya region. Operations are currently pending the issuance of necessary regulatory approvals and licenses from local authorities.

Once formal authorization is secured, an intensive 18-month exploration phase is purportedly set to begin. During this timeframe, the venture aims to analyze existing geological data, conduct additional exploratory drilling, evaluate mineral reserves according to international JORC standards, and perform environmental impact assessments alongside metallurgical testing.

Furthermore, the partners are reportedly planning to establish another joint venture targeting prospective mineral areas situated between the cities of Navoi and Nurata, with an initial two-year financing framework already prepared. Both sides are also discussing potential cooperation in exploring other mineral deposits across their respective territories.

Source: uznews.uz