23.09.25
Within the framework of the Azerbaijan International Investment Forum (AIIF 2025) held in Baku, Azerbaijan’s “Dashkasan Iron Ore” company and Kazakhstan’s “Fonte GreenMet Investments Fund” signed an agreement to establish a joint company — “Azerbaijan Metal Company.”
According to Vesti.az, the project envisions the construction of a plant in Azerbaijan’s Shamkir district to produce hot briquetted iron (HBI). The plant will have an annual capacity of 2 million tons, with production expected to launch in 2029. The total investment in the project is estimated at $700 million. The plant is projected to generate up to $694 million in annual revenue for Azerbaijan’s economy and create about 1,600 jobs.
The exploitation of the Dashkasan iron ore deposit is a large-scale project with the potential to bring significant economic benefits to Azerbaijan. However, several natural and logistical factors pose serious challenges. These include the relatively low average iron content in the ore (about 40%), the deep location of the deposit, and the absence of direct access to international waterways. These conditions significantly increase operational and transportation costs.
Given these circumstances, producing high value-added products has become a strategic necessity. To ensure effective project implementation, internationally recognized consulting companies have been engaged, and the most optimal technological solution has been selected. As a result, a three-stage production chain has been developed:
- Production of high-quality concentrate with iron content above 67%,
- Production of iron ore pellets,
- Production of hot briquetted iron (HBI) from these pellets.
