The European Investment Bank (EIB) is open to discussing potential investments in Azerbaijan’s mining industry, with critical raw materials among its areas of interest.
Head of the EIB Group Regional Representation for the South Caucasus Stella Renita outlined the bank’s position in an interview published on 26 September.
“Critical raw materials are one of the areas we are interested in. Of course, we are interested in exploring opportunities in this field,” Renita says.
However, she notes the EIB has not yet held discussions with Azerbaijani authorities about potential mining investments.
The comments follow the bank’s adoption of a critical raw materials initiative, which supports financing and advisory work across mining, processing, recycling, and material substitution projects inside and outside the European Union (EU).
The EIB has not identified any prospective projects or recipients in Azerbaijan or disclosed a possible funding amount or timetable.
Meanwhile, Azerbaijan is preparing a state program for developing its mining and metallurgical industries between 2027 and 2030. The plans cover exploration and development of gold, copper, and molybdenum deposits, alongside processing infrastructure.
The government is also advancing the Filizchay polymetallic deposit, where state-owned AzerGold is preparing a Feasibility Study. Azerbaijani President Ilham Aliyev says private and foreign investors could participate in selected projects.
Renita says renewable energy, energy efficiency, and transport connectivity are also among the EIB’s areas of interest in Azerbaijan.
The EIB is the EU’s long-term lending institution and finances projects supporting EU policy objectives within and outside the bloc.
Write to France Pinzon at Mining.com.au
Main image: European Investment Bank
