Uzbekistan, Tashkent, Oct. 4 / Trend , D.Azizov /
Almalyk Mining and Metallurgy Combine OJSC (AGMK, Uzbekistan) will invest $65 million in the project on gold production development by 2015.
The company plans to intensify mining works at Kyzylolma and Kochbulak mines, as well as construction of new underground mine Kayragach in Tashkent region with the capacity of 80,000 tons of ore a year.
Major construction work on the mines is scheduled to begin in 2012 . The construction period is three years.
The modernization programme will be financed due to own resources of AGMK and loans of the Uzbek banks.
Almalyk Mining and Metallurgy Combine OJSC is the largest producer of copper in Uzbekistan and it has right to develop several copper- molybdenic and lead-zinc deposits in Tashkent, Jizzakh and Namangan regions of Uzbekistan. The enterprise produces purified copper (cathode), including copper concentrate based on tolling and due to processing of scrap, metal zinc, lead concentrate and other products. Share of AGMK in production of silver is 90% and gold - 20% in Uzbekistan.