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"Gold Rush": Uzbekistan to allow artisanal mining of precious metals

Business Materials 28 November 2018 16:08 (UTC +04:00)

Baku, Azerbaijan, Nov. 28

By Fikret Dolukhanov – Trend:

Uzbekistan will allow artisanal mining of precious metals with undertaking entrepreneurial risk since March 1, 2019, Uzbek media reported referring to the decree of the president of Uzbekistan

The document points out the existing problems with illegal mining of precious metals and their export abroad.

“Unauthorized mining of precious metals has become systemic in the territories of the Navoi, Samarkand and Bukhara regions, which leads to the shadow turnover of precious metals and their illegal export abroad. There are injuries and deaths happening during illegal gold mining,” the document read.

Despite the measures taken, in some regions of the country there is increasing social tensions and deteriorating the criminal situation, caused partly by the continuing unauthorized mining of precious metals.

The main reason for such developments is the lack of the opportunity to legally engage in non-industrial mining of precious metals in areas of the subsoil that are not considered industrial development objects.

In this regard, the head of state ordered to release those engaged in artisanal mining of precious metals from paying all types of taxes and other obligatory payments (except for a single social payment).

The Almalyk and Navoi Mining and Metallurgical Combines should, until March 1, 2019, open specialized reception offices in the regions of the country and establish a transparent mechanism for buying up precious metals from individuals.

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Follow the author on Twitter: @FDolukhanov

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