The Azerbaijani Milli Majlis will review a draft law on December 27 concerning the adoption and approval of an agreement for the restoration, exploration, development, and production sharing of the Soyudlu (Zod) gold deposit.
The agreement, signed in Baku on December 10, 2024, between AzerGold Closed Joint Stock Company and Asian Mining Holding FZ LLC, marks a significant step in the partnership to explore and develop the Soyudlu gold deposit. Following the passage of this law, all existing rights and obligations under any prior agreements or contracts related to the contract area specified in the agreement will be nullified.
Once the law comes into effect, the parties to the agreement will be granted exclusive rights to operate within the contract area, in accordance with the terms outlined in the agreement and its annexes.
The law also ensures that the involved parties will receive all necessary licenses, permits, visas, and other authorities required to fulfill the agreement’s obligations. Any changes, amendments, or additions to the agreement or its annexes will require the written consent of both parties.
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