Azerbaijan hosts first-ever auction for East Zangezur mineral deposits

In a move towards the economic revitalisation of Azerbaijan's liberated territories, the State Agency for the Use of Mineral Resources is holding its first-ever auction for mineral deposits in the East Zangezur economic region on June 12.

The venue for this historic event is Aghali village in Zangilan district, Caliber.Az reports, citing local media.

This inaugural auction will offer two mineral deposits: the Hajili limestone deposit located in Gubadli district and the Ahmadli natural stone deposit situated in Lachin district.

The development of these resources holds the potential to create new economic opportunities, jobs, and contribute to the overall reconstruction efforts in the region.

The East Zangezur region is situated in the western part of Azerbaijan, bordering Armenia. It includes districts such as Kalbajar, Lachin, Zangilan, Gubadli, and Jabrayil.

The region is known for its rich deposits of precious metals like gold and silver, as well as base metals such as copper, molybdenum, lead, and zinc. Additionally, there are significant reserves of industrial minerals, including limestone and marble.

The East Zangezur region, including its mineral resources, was under Armenian occupation for almost three decades. Following the 2020 Second Karabakh War, Azerbaijan regained control over these territories, opening up the opportunity to explore and exploit the mineral resources in this area.