TODAY.AZ / Business

Exploring deposits in key economic regions: Azerbaijan leverages natural resources for prosperity

27 May 2024 [08:30] - TODAY.AZ
By Azernews

Ulviyya Shahin

Back in the Soviet era, Azerbaijan, with her fame as an oil and gas country in the South Caucasus region, has for a long time been deprived of some of its natural resources. The reason for this was that more than twenty percent of the territories of Azerbaijan remained under the occupation of Armenia. These fertile lands, rich in oil and gas on the one hand, and natural underground resources on the other, opened the way to greater prospects after the Patriotic War in 2020.

Thus, Azerbaijan is poised to embark on a significant geological exploration project aimed at detecting both ore and non-ore deposits across four of its key economic regions. This initiative, spearheaded by the Geological Exploration Agency under the Ministry of Ecology and Natural Resources, marks a strategic effort to enhance the country’s mineral resource base, potentially driving economic growth and development.

The exploration activities will be focused on the Eastern Zangazur, Garabagh, Gazakh-Tovuz, and Ganja-Dashkasan economic regions. These areas have been identified for their geological potential, and the project will involve advanced geophysical and geochemical surveying techniques. Hyperspectral and remote sensing methods will be employed to map anomalies, which are crucial for identifying promising mineral deposits.

An investment of 4.37 million manats has been allocated for this extensive exploration work. This substantial financial commitment underscores the importance placed on mineral exploration by the Azerbaijani government. The integration of the new data into existing geological and metallogenic maps will facilitate the creation of a comprehensive hybrid map of geological conditions. Such a map will be instrumental for future exploration and mining activities, providing a detailed understanding of the region's mineral wealth.

A detailed catalog of the research polygons will be compiled, documenting vital information such as coordinates, areas, dimensions, characteristic changes, and geological bases of these polygons. This meticulous record-keeping will not only aid in the current exploration but will also serve as a reference for future geological studies. Additionally, alternative exploration areas will be identified based on the findings, ensuring a continuous and systematic approach to mineral exploration.

The economic implications of this project are far-reaching. The discovery of new mineral deposits could lead to the development of new mining operations, attracting both domestic and international investment. This, in turn, would create job opportunities, boost local economies, and increase the country’s export revenues. Furthermore, enhanced geological data can improve the efficiency and sustainability of mining activities, minimizing environmental impact while maximizing economic returns.

Azerbaijan’s initiative to explore ore and non-ore deposits in its key economic regions represents a forward-thinking approach to leveraging natural resources for economic development. The combination of substantial financial investment, advanced technological methods, and strategic planning underscores the potential for significant economic gains. As the project progresses, it will be closely watched by industry stakeholders, investors, and policymakers, all keen to see how Azerbaijan capitalizes on its geological potential to foster economic growth and development.

URL: http://www.today.az/news/business/248857.html

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