Korean companies to produce gold in Uzbekistan
Baku, Azerbaijan, Nov.21
By Nigar Guliyeva - Trend:
Uzbekistan and South Korea have agreed on joint projects on geological exploration and development of four gold deposits, Podrobno.uz reported with reference to a source in the government.
At the initial stage, it is planned to direct Korean investments worth $10 million to geological study of promising areas and identification of new mineral deposits.
In addition, the implementation of the investment project will continue together with Shindong Resources for the development of tungsten field in Navoi region. In 2018-2019, work will be carried out on increasing the raw material base of the production, as well as the development of a bank feasibility study for a total of $3 million.
The Uzbek side also agreed to expand cooperation with the Hanjin D&B company. In particular, it is planned to increase the production capacity of modern hydroficated drilling rigs to 15 units for the modernization of enterprises in the geological and oil and gas industries. In this case, the localization of individual parts and equipment will be brought to 50 percent.
Uzbekistan is fourth in the world regarding total gold reserves, and ninth in terms of gold production. According to the State Statistics Committee of Uzbekistan, 41 gold deposits have been discovered in the country, of which only nine deposits are being developed.
The volume of proven and confirmed gold reserves in Uzbekistan is about 2,100 tons. The total reserves are approximately 3,350 tons.
Two largest enterprises - Navoi and Almalyk Mining and Metallurgical Combines are engaged in the gold production in Uzbekistan.
In June, the government of Uzbekistan approved a list of twelve gold deposits for their industrial development with participation of foreign investments.
This list includes deposits of mainly gold-quartz and gold-sulfide ores in four regions of the country - Tashkent, Samarkand, Navoi regions, as well as the autonomous republic of Karakalpakstan. The total reserves of the proposed deposits (category C2) are more than 14.5 tons of gold.