TASHKENT, Uzbekistan, June 12. We have commenced drilling operations on the Uchquloch project in the Jizzak region of Uzbekistan, a zinc and lead deposit originally developed during the Soviet era, said Emre Kayisoglu, Chief Executive Officer of Esan Eczacıbaşı, during the panel discussion on Sustainable Mining: New Opportunities for Investors within the IV Tashkent International Investment Forum, Trend reports.
“The open-pit mining has largely finished, and the reserves are nearly depleted. However, we are seeing very promising data from our drilling activities,” said the project director.
“Given the results, we’re now focused on improving the metallurgical beneficiation of the ore, and we’re optimistic about its potential due to advances in technology. We are also working on grinding solutions to improve recovery rates,” he added.
The director emphasized that one of the key reasons for choosing Uzbekistan as an investment destination is the country’s recent legal reforms, which mirror those in neighboring Kazakhstan, particularly its 2018 mining law reforms. These updates have created a more attractive and stable environment for international mining companies, he said.
“We believe Uzbekistan’s legislative changes will attract more international investors, including major mining companies. The interest is expected to come quickly. The country is improving its standards to match international norms, and institutions like the EBRD are helping with this transition. This support will encourage international investors to view Uzbekistan as a viable and lucrative market. As first movers in this emerging market, we have collaborated closely with Uzbekistan’s Ministry of Mining and Mineral Resources to navigate this evolving landscape. Their support has been invaluable in overcoming initial challenges and advancing the project. We believe our pioneering work will pave the way for future investment, helping to establish Uzbekistan as a competitive and attractive destination for international mining ventures,” Kayisoglu explained.
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