Azerbaijan creates national company AzerGold

Last week, Azerbaijani President Ilham Aliyev issued a decree on establishment of a state-owned company AzerGold, which will study, explore, develop and manage deposits of precious and base metals in the country.

The Ministry of Economy and Industry was instructed to define the strategy of the new company, and entrusted to appoint and dismiss members of its Supervisory Board and Audit Committee, appointment/dismissal of head of offices, branches and representative offices. During the next two months, he must agree and approve the position and structure of AzerGold.