International Resources Holding (IRH), an Abu Dhabi-based natural resources investment platform and subsidiary of 2PointZero Group, has signed a strategic agreement with Azerbaijan’s state-owned mining company AzerGold CJSC to jointly explore the mineral potential of the Nakhchivan region.

The agreement was signed during a ceremony witnessed by UAE and Azerbaijani leaders as part of a high-level UAE delegation visit to Azerbaijan.

Ali AlRashdi, IRH Chief Executive Officer, and Zakir Ibrahimov, AzerGold Chairman, signed the agreement.

Under the agreement, the companies will conduct a detailed assessment of Nakhchivan’s mineral potential to identify prospective deposits and future exploration opportunities.

Depending on the findings, the partnership could progress to further exploration and resource development, including the potential establishment of a joint venture in Azerbaijan.

Any resources identified through the exploration programme will subsequently be assessed for potential development.

The agreement supports IRH’s strategy to expand its international resources portfolio through partnerships with established national and industry stakeholders.

 The companies will combine IRH’s international resources capabilities with AzerGold’s local expertise and knowledge of Azerbaijan’s mineral landscape.

AlRashdi said: “This agreement with AzerGold represents an important milestone for IRH as we continue to expand our global resources footprint and build strategic partnerships in markets with significant mineral potential. By combining our international resources expertise and capabilities with AzerGold’s deep understanding of Azerbaijan and its mineral landscape, we have an opportunity to unlock value from the country’s mineral potential while supporting its broader economic development"  -OGN/TradeArabia News Service