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In the Qashqadaryo Region of Uzbekistan, an Azerbaijani company will conduct comprehensive geological exploration work at the Akba gold deposit. This was reported by the press service of the AzerGold Joint Stock Company.

AzerGold has officially registered a subsidiary in Uzbekistan in the form of a limited liability company, AzerGold Uzbekistan. The main task of the new entity is the development of cooperation between the two countries in the fields of the mining industry and geological exploration.

At the first stage, the mineral resource potential of the Akba gold deposit in the Qashqadaryo Region will be evaluated, and the economic feasibility of its commercial development will be studied.

Currently, the process of obtaining the necessary permits to begin work on the territory of the deposit is underway. After the issuance of the relevant license by the government of Uzbekistan, geological exploration work designed for 18 months will launch.

During this period, existing geological information on the deposit will be analyzed, and additional prospecting work will be conducted. Mineral resources will be evaluated in accordance with the requirements of the international JORC code. Metallurgical testing will also take place, and the mining technology and the project's environmental impact will be studied.

Upon completion of the exploration work, a final feasibility study for the development of the deposit will be prepared. An investment proposal compiled on the basis of the study's results will be submitted to the relevant state bodies of Uzbekistan.

The legal basis of the project is an agreement on the joint development of the Akba gold deposit, signed on June 17, 2026, between AzerGold and the Ministry of Mining Industry and Geology of Uzbekistan.

AzerGold does not intend to limit itself in Uzbekistan to the Akba deposit alone. The company plans to organize geological exploration work on promising sites between the cities of Navoiy and Nurata as well. A special joint venture will be created for this purpose. Its establishment is provided for by a tripartite agreement signed on July 17, 2026, between AzerGold, Uzbekgeolrazvedka JSC, and the Azerbaijan-Uzbekistan Investment Company. Approval of the joint venture's founding documents and acquisition of necessary state permits are currently underway. A plan for geological exploration work and its financing for the first two years has also been developed within the framework of the project.

After the full launch of the joint venture, geological studies will begin in stages on the promising sites. If mineral reserves allowing for economically efficient mining are identified based on their results, the parties will proceed to the implementation of relevant investment projects and the joint development of the deposits.