AzerGold CJSC has entered into a strategic partnership with the UAE-based International Resources Holding (IRH) to explore the mineral and raw material potential of the Nakhchivan Autonomous Republic in Azerbaijan. This collaboration aims to identify and assess significant mineral deposits within the region, focusing on joint geological exploration efforts.
The agreement was formalised on September 14, 2026, during a ceremony attended by Azerbaijani President Ilham Aliyev and UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan. The signing of the ‘Agreement for the Joint Evaluation and Exploration of Mineral Potential and Mining Properties within the Nakhchivan Autonomous Republic’ marks a significant step in enhancing bilateral cooperation between Azerbaijan and the UAE.
Zakir Ibrahimov, Chairman of the Board of AzerGold, and Ali Rashed AlRashdi, CEO of IRH, signed the agreement, which outlines a phased approach to exploration. The initial phase will involve a thorough review of existing geological data and the application of modern exploration techniques to identify promising areas for mineral deposits.
Should the preliminary assessments yield positive results, the partnership will advance to detailed exploration, with the potential for joint mining operations being considered in subsequent stages. IRH brings extensive international experience in mining asset development, having operated in regions including Africa, South Asia, and the Middle East. This collaboration is expected to leverage IRH’s technical and investment expertise alongside AzerGold’s local knowledge to conduct a comprehensive study of Nakhchivan’s mineral resources.
The anticipated outcomes of this partnership include the creation of new investment opportunities in Nakhchivan, bolstering the local mining industry, and enhancing employment prospects. Furthermore, it is expected to stimulate economic activity within the region and contribute to the diversification of Azerbaijan’s economy beyond the oil sector.
