Azerbaijani companies to participate in developing mineral deposits in Uzbekistan

BAKU. June 17 (Interfax) - Baku and Tashkent have agreed on the joint development of a gold ore deposit and the exploitation of minerals in Uzbekistan, the Azerbaijani government said in a statement.

"The signing of bilateral documents took place with the participation of Azerbaijani Prime Minister Ali Asadov, who is in the country [Uzbekistan] on a working visit to participate in the Fifth Tashkent International Investment Forum, and Uzbek Prime Minister Abdulla Aripov," the government said.

It provides for the development of a gold ore deposit with the participation of CJSC AzerGold and the development of important minerals with the participation of NEQSOL Holding.

"Documents on cooperation in the banking sector between the OJSC International Bank of Azerbaijan and the relevant structure of Uzbekistan were also signed," the government said.

The terms of cooperation were not specified.

Uzbekistan Deputy Mining and Geology Minister Ural Yusupov previously said that a decision will be made together with Azerbaijan by the end of 2026 on launching joint geological exploration work at precious metal deposits. Uzbekistan is studying the potential of precious metal deposits in the Kashkadarya and Surkhandarya regions, as well as critical materials in Karakalpakstan and the Jizzakh region, Yusupov said.

AzerGold Management Board Chairman Zakir Ibrahimov said in February 2026 that the company is interested in participating in foreign gold mining projects, with Uzbekistan and Kazakhstan being considered as potential areas of cooperation.

CJSC AzerGold was established by decree of Azerbaijani President Ilham Aliyev in 2015. It is engaged in the study, research, exploration, development and management of gold-bearing and iron ore areas at Garadagh, Chovdar, Goydagh, Dagkesemen and Kokhnemeden and in the Kurakchay basin.