(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 23. The Dashkasan iron ore project will contribute $13 billion to GDP and create 4,000 new jobs in Azerbaijan, Chairman of the Board of Directors of AzerGold CJSC Zakir Ibrahimov said at a briefing held within the framework of the second day of the 1st Azerbaijan International Investment Forum in Baku today, Trend reports.

According to him, the comprehensive implementation of both phases of the project will bring greater socio-economic dividends to the region.

"It will contribute approximately $13 billion to the country's GDP during the period after the start of operations, enabling the creation of approximately 4,000 jobs through direct and indirect impacts," he noted.

Azerbaijan possesses industrially significant reserves of iron ore, primarily concentrated in the Dashkasan ore region, which includes deposits like Dashkasan, Southern Dashkasan, and Damir. Following recent assessments and exploration, the total estimated reserves of the Dashkasan field have reached approximately 309 million tonnes. AzerGold CJSC, through its subsidiary Dashkasan Iron Ore LLC, is leading the revival of iron ore extraction, beginning mining operations in 2022 at the Southeast deposit.

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