Baku, September 11, AZERTAC

Within the framework of the Responsible Sourcing program of the London Precious Metals Market Association, "ARGOR-HERAEUS SA", one of the world’s largest refining companies has conducted an on-site visit of "AzerGold" Closed Joint Stock Company (QSC) and presented its final report on its conclusions.

The activities of the Closed Joint Stock Company, which cooperates with the Swiss company in the field of refining and selling precious metals in foreign markets, was evaluated as consistent with international standards and transparency criteria in 5 functional areas, such as mining operations; quality control and production processes; health protection, labor and environmental protection; project management; law, current legislative requirements, governance and anti-corruption; work with local community.

The final report says that AzerGold manages the production area and the visited precious metal ore mine at a high quality with a professional team. The implementation of the consulted policies, rules and procedures applicable in all areas of the activity was considered at the highest degree of compliance. Also, the report expresses relevancy of the large-scale social and environmental projects realized by AzerGold within the framework of corporate social responsibility activities and points out that all reasonable means are taken within the national legislation to prevent or minimize threats that could harm the environment in the work process.

Thus, the Swiss company once again gave a positive opinion about AzerGold, which sets up its activities in accordance with international standards and transparency criteria.

Notably, the delegation of "ARGOR-HERAEUS SA" had meetings at the head office of the company and made a site visit to Chovdar Integrated Regional Processing Area in Dashkasan district on July 18-20. The visit aimed to substantiate the documented KYC (Know Your Customer) information and to assess operation processes of AzerGold based on various criteria under international practice, carrying out multiphase inspections according to worldwide basic requirements - KYC and "Due Diligence" (legal expertise) procedures. Upon the conclusion of the on-site visit, AzerGold was given a positive opinion. Remarkably, such a positive opinion was first presented to "AzerGold" in 2017.