15:34 - 13.11.2026

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November 13, Fineko/abc.az. The projected growth in world copper prices may create additional opportunities to increase Azerbaijan's earnings from non-oil exports. The potential of this sphere relates both to the expected increase in the cost of metal and to the expansion of its production in the country.

American investment bank Goldman Sachs predicts that in 2027 the average price of copper at the London Metal Exchange will be $15,400 per ton. Currently, 3-month copper futures contracts are trading around $13,612 per ton. At that, bank's latest estimate, published on November 13, suggests the possibility of reducing the projected price to $14,500-14,600 per ton. The US tariff policy and investments in the artificial intelligence sector are among the risk factors.

Against this background, the production of copper raw materials is increasing in Azerbaijan. According to the State Statistics Committee, for Jan-Sept 2026, the output of copper concentrate reached 14,494.8 tons (5.2-fold more versus the 2025 same term).

Over Jan-Sept 2026, copper ores and concentrates worth $213.5 million were exported from Azerbaijan, including $29.8 million in September. In terms of export value, this commodity group ranked 2nd in the structure of country's non-oil exports after gold. Exports of copper and its products grew by 21.7%.

Further expansion of the raw material base and production capacities is envisaged by the State Program for 2027-2030, approved by President Ilham Aliyev on September 23, 2026. The document stipulates an increase in production, involvement in development of new deposits and development of processing capabilities within the country.

In particular, it is planned to bring Filizchai field in Balaken region to full capacity by the end of 2031. The project will require approx. 1 bn manats of investments. According to the plans, 363,000 tons of copper, 2.7 million tons of zinc and 1 million tons of lead are to be extracted over 34 years of operation of the deposit.

In addition, it is planned to study the Heydag and Bashkend fields in Nakhchivan, as well as the Mazymchai fields in Balakan region.