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On March 10 the memorandum of cooperation has been signed between "Dashkasan Iron Ore" LLC, the subsidiary company of “AzerGold” Closed Joint-Stock Company (CJSC) and Azerbaijan State Oil and Industry University (ASOIU). The memorandum was signed by Ogtay Mammadov, General Director of "Dashkasan Iron Ore" LLC, and ASOIU's Rector Mustafa Babanli. According to the memorandum, on the basis of mutual agreement, it is planned to jointly design and implement the conception of study, exploration of ferrous metal ore deposits, to train a qualified personnel for the application of new technologies in this field in the country. In addition, the document includes the involvement of undergraduate and master's students of various faculties of the university in the company's practical internship. It is planned to involve selected students in practical internship in scientific research and design work, jointly compiling the topics required for the thesis, scientific works etc. as well as to award distinguished students scholarships and prizes.
Notably, by the Presidential Decree dated August 6, 2020, the Company AzerGold CJSC has been instructed to prepare a preliminary assessment document in connection with the commissioning of the "Dashkasan Iron Ore" field, the largest iron ore deposit complex in the region. By the Decree of the President dated September 1, 2020, research, exploration, development and management of ferrous metal ore deposits in the country, as well as other tasks related to the development of this field were added to the Company's activities. "Dashkasan Iron Ore" LLC as a subsidiary legal entity was established by AzerGold CJSC on December 14, 2020 in order to fulfill the tasks arising from these documents and to organize activities on iron ore deposits in the country. The goal is to make additional socio-economic contributions to the development of the country's economy, including the region, by the re-commissioning of the Dashkasan iron ore field, one of the largest projects of the joint-stock company.