Tashkent, Uzbekistan, May 4
By Demir Azizov- Trend:
Uzbekistan plans to increase gold production by 20-30 percent, up to nearly 120-130 metric tons per year in 2015-2019, representative of the State Committee on Geology and Mineral Resources of Uzbekistan told Trend.
The increase in gold production is planned to be achieved through development of new deposits, according to the source.
It is planned to invest more than $1.1 billion in total for five years in projects to increase gold production, planned for implementation at Navoi and Almalyk Mining and Metallurgical Complexes (MMC).
Navoi Mining Complex plans to build four new gold mines with a total cost of $330 million, as well as upgrade the existing career "Muruntau" and "Zarmitan" with a total project value of $485 million.
Almalyk MMC in 2020 should complete the construction of two underground mines based on Kyzyl Olma deposit worth $185 million.
Projects will be financed by own funds of enterprises, loans of Uzbek banks and Reconstruction and Development Fund of Uzbekistan.
The representative of the State Committee on Geology and Mineral Resources of Uzbekistan said development of new deposits has been carried out in Uzbekistan throughout the last several years, and thanks to this fact, excess of incremental gold reserves over the redeemable ones has been provided since 2013.
Uzbekistan increased gold production by 4.1 percent in 2014 compared with 2013 - up to 102 metric tons, according to the United States Geological Survey (USGS).
At the end of 2011, some 63 deposits of gold were discovered in the country, more recent data are not disclosed. The explored and confirmed reserves of gold in Uzbekistan are more than 2,500 metric tons, according to experts.