Located in the rugged terrains of Azerbaijan, the Dashkasan district's story begins in 1920, capturing the spirit of industrial ambition against a backdrop of rich natural resources. By 1948, Dashkasan had evolved into a focal point for the Soviet Union's ambitious mining endeavors, with the establishment of its urban center aimed at exploiting the vast mineral wealth beneath its soil. The operational launch of the mine in 1945, followed by the commencement of ore concentrate production in 1954, marked the onset of a golden era. This period saw the entire city's existence intertwined with the mine's fate, embodying the region's industrial identity, where almost every inhabitant's livelihood was connected to the mining operations in some capacity.

However, the collapse of the Soviet Union introduced a period of uncertainty due to collapsed production chain, overshadowing Dashkasan with economic challenges. The once-thriving mines, central to the community and the region's economy, dwindled, leaving a void in their wake and casting a shadow over the district's future.

In 2020, a transformative decision marked the beginning of a new era when "AzerGold" CJSC was entrusted with the development and management of Dashkasan iron ore deposits. In the end of 2020 "AzerGold" CJSC founded "Dashkasan Iron Ore" LLC to operate extraction and metallurgical production. AzerGold's acquisition of the mine set the stage for a comprehensive revival. With external expertise of the Boston Consulting Group (BCG), the introduction of Hot Briquetted Iron (HBI) production emerged as a beacon of hope, aiming to not only rejuvenate the industrial landscape but also position Dashkasan as one of the front-runners in sustainable iron production.

A detailed reassessment of the Northwest and Southeast deposits has significantly increased the resources by 69.7 million tons, boosting the total ore resources in the Dashkasan iron ore field to an impressive 309.16 million tons. Indicated iron ore reserves for open pit mining over this project is 57 mln tons with an average Fe grade of 36%. This lays a solid foundation for an ambitious production chain aiming to annually extract more than 3 million tons of ore, leading to the production of 1.3 million tons of concentrate, and subsequently, about 0.9 million tons of HBI raw materials as a final product. The project is meticulously designed to adhere to the latest environmental standards and global sustainability trends from its inception. The use of direct reduction technology is set to drastically reduce CO2 emissions by up to 60% compared to conventional steelmaking processes, with future potential to incorporate green hydrogen, amplifying the commitment to green technology and environmental stewardship.

Appropriate analyses are being performed, aimed at further increasing mineral resources feasibly extractable in the Southeast and Northwest deposits to extend the mine's lifespan from an initial projection of 21 years to between 23 and 27 years, ensuring a sustainable and prosperous future for Dashkasan. The project's economic and social benefits are vast. It promises to significantly impact the Ganja-Dashkasan economic region's employment index, creating thousands of permanent jobs and fostering socio-economic development. Potential investors show great interest in the project. This indicates the attractiveness and relevance of the project.

This ambitious venture symbolizes more than just the revival of a historic mining district; it represents Azerbaijan's stride towards innovation and sustainability in the iron and steel industry. The Dashkasan Iron Ore project stands as a beacon of economic resurgence, sustainable development, and industrial innovation, poised to redefine both regional and global standards for environmental responsibility and economic vitality.