Uzbekistan, Tashkent, Oct. 29 /Trend D.Azizov/
Uzbekistan plans to begin developing the Sautbay tungsten deposit in the Navoi region (central part of Uzbekistan) in 2013, a government source told Trend on Monday.
According to the source, it is planned to develop the field with the participation of the Korean Shindong Resources Co. Ltd.
The Uzbek State Committee for Geology and Mineral Resources and Shindong Resources Co. Ltd. signed an agreement to prepare a feasibility study of the project at a preliminary cost of $150 million in September 2012.
It is planned to complete a feasibility study in May 2013. After its approval, it is planned to sign constituent documents to establish a joint venture.
As reported in August 2011, the Korean Shindong Resources Co Ltd and Uzbek State Geology Committee signed an agreement on establishing a joint venture called Uzbekistan-Korea Tungsten to develop Sautbay tungsten deposit.
The project which is worth $120 million, envisages carrying out exploration work as well as construction of a mining and processing complex with an annual design capacity of 1500 tons of high tungsten concentrate per year.
The explored reserves on the Sautbay deposit have hit four million tons of ore containing tungsten trioxide to the aggregate of 19,900 tons.
Moreover, the programme of development of mineral resources of the country's tungsten deposits for the next six years was developed in Uzbekistan in 2006.
According to the programme it was planned to construct a mining and processing complex with the development of the north site of the Yakhton field in the Samarkand region.
It was planned to launch the development in 2010-2012 with an annual production of tungsten concentrate to the amount of 1260 tons.