Last year, the reserve of Dashkasan iron ore deposits was seriously increased in accordance with international standards by "Dashkasan Demir Filiz" Limited Liability Company, a subsidiary of "AzerGold" CJSC.

"APA-Economics" informs that Zakir Ibrahimov, Chairman of the Management Board of JSC, said this during the conference speech dedicated to "AzerGold" results of 2022 and upcoming tasks.

He said that work is being continued until the end of 2025 in order to organize the production of iron ore - concentrate, then pellet and direct reduction iron (direct reduction iron) raw materials for the purpose of building the relevant production infrastructure.

It is also planned to attract foreign investors to reduce the burden of dependence on the state budget.

Zakir Ibrahimov pointed out that the process of negotiations regarding the involvement of an experienced partner company is at the final stage.

It was noted that with the commissioning of iron ore deposits, the dependence of the metallurgical industry on imports will be reduced, that by 2035, ~3 billion 970 million US dollars (approximately 6 billion manats) will be contributed to the GDP, and ~290 million US dollars (~493 million it is predicted that taxes will be paid in the amount of manat).

Taking into account the direct and indirect effect during the implementation of the project, it is planned to make a significant contribution to the employment indicator of the region by creating hundreds of permanent jobs annually.