The key facts

  • AzerGold has registered its first foreign subsidiary — AzerGold Uzbekistan
  • Prospecting work lasting 18 months is planned at the Akba deposit in the Kashkadarya region after the license is issued
  • Reserves will be assessed under the international JORC code; the legal basis is the agreement of June 17, 2026

Subsidiary company registered

The Azerbaijani company AzerGold has officially registered a subsidiary, AzerGold Uzbekistan, in Uzbekistan in the form of a limited liability company. According to AzerGold's press service, this is the company's first subsidiary abroad; its main task is to develop cooperation between the two countries in the mining industry and geological exploration. Kun.uz also reported on this.

What is planned at the Akba deposit

At the first stage, an assessment of the mineral resources of the Akba gold deposit in the Kashkadarya region will be carried out, and the economic feasibility of its industrial development will be studied. The process of obtaining permits for access to the site is currently ongoing. After the license is issued by the government of Uzbekistan, geological exploration work will begin, designed for 18 months: analysis of existing geological data, additional prospecting, reserve estimation under the international JORC code, metallurgical testing, as well as the study of mining technologies and the project's environmental impact.

Next steps and other projects

Upon completion of the prospecting work, a final feasibility study for the development of the deposit will be prepared, and an investment proposal based on the research results will be submitted to the relevant state body of Uzbekistan. The legal basis of the project is the agreement between AzerGold and the Ministry of Mining Industry and Geology of Uzbekistan on the joint development of the Akba deposit, signed on June 17, 2026.

Plans beyond Akba

AzerGold is not limiting its activities in Uzbekistan to the Akba deposit: the company plans to organize geological exploration at promising areas between Navoi and Nurata, for which a special joint venture is being established. It is provided for by a trilateral agreement signed on July 17, 2026 between AzerGold, JSC Uzgeologorazvedka, and an Azerbaijani-Uzbek investment company. The founding documents are currently being coordinated and the necessary state permits are being obtained; a plan for prospecting work and its financing for the first two years has already been developed. After the venture is launched, research will be carried out in stages, and if economically viable mineral reserves are identified, the parties will move on to investment projects and the joint development of deposits.