BAKU, Azerbaijan, September 22. One of the long-term goals is to assess the possibility of transforming Azerbaijan into a regional hub for the processing of strategic minerals, Economy Minister Mikayil Jabbarov said at a meeting chaired by President Ilham Aliyev dedicated to the State Program on the development of the mining and metallurgical industry.
According to the minister, there has been a significant increase in prices for certain strategic metals over the past 10 years: “Global demand for these metals is expected to continue growing over the next 10 years. Demand is projected to increase by 23% for aluminum, 21% for copper, 15% for zinc, and 10% for gold. Azerbaijan has several opportunities and advantages in this regard. We are located along the Central Asia–Europe corridor and, thanks to your policies, play a key role. The Port of Baku and the Baku–Tbilisi–Kars railway provide important logistical capabilities. The Alat Free Economic Zone and our other industrial zones offer additional opportunities.”
Mikayil Jabbarov emphasized that competitive energy prices are also an important advantage for our country: “Furthermore, access to the raw material potential of Central Asia and the South Caucasus can expand Azerbaijan’s regional processing capacities.”
The minister noted that as production increases, demand for freight transportation and logistics services will rise, and new opportunities will emerge for local contractors and suppliers.
“Expanding the local supply of raw materials and semi-finished products will create the conditions for the development of new industries. Demand for skilled personnel will rise. This will accelerate the development of technical knowledge and skills and contribute to our scientific potential. Most importantly, employment and economic activity in the regions will increase. New value chains will also create additional opportunities for private investment and entrepreneurship,” Mikayil Jabbarov added.
To note, on September 22, President of the Republic of Azerbaijan Ilham Aliyev chaired a meeting dedicated to the “State Program on the Development of Mining (Metal Ores) and Metallurgical Industry in the Republic of Azerbaijan for 2027–2030.”
