Azerbaijan, Kazakhstan boost capital of JV by $20 mln to produce hot briquetted ironAzerbaijan Metal Company, an Azerbaijani-Kazakh joint venture established to implement a hot briquetted iron (HBI) production project, has doubled its authorized capital from $20 million to $40 million.According to the financial statements of CJSC Azergold, whose subsidiary, Dashkesan Demir Filiz LLC, is a co-owner of the joint venture, the increase in authorized capital was achieved through the issuance and placement of additional $20 million in shares with par value of $400,000 each.The decision to increase capital was reached at a meeting of the joint venture participants. As part of this decision, Azergold made an additional $10 million contribution to the company's capital on January 29, 2026.Azerbaijan Metal Company LLC was established in September 2025 by Azerbaijan's Dashkesan Demir Filiz and Kazakhstan's Fonte GreenMet Investments Fund OEIC Ltd. on a 50-50 basis.Investment in the construction of the HBI plant is estimated at $800 million. Its commissioning in the Shamkir region of western Azerbaijan is scheduled for late 2029. The plant is expected to become the largest link in a three-component production chain, encompassing the entire process-from iron ore mining at the Dashkesan deposit to the production of metallurgical raw materials. (ICE ALMATY)

Fonte notizia: INTERFAX