Baku, Azerbaijan, Aug 29
By Fakhri Vakilov-Trend:
International consortium of the German HPO Service GmbH, the US Intertech Process Technology, the Canadian SEPRO Mineral Systems and the Danish Alliance Capital intends to build a mining and processing complex (MPC) worth about $450 million on the basis of the Uch-Kulach polymetallic ore deposit in the Jizzakh region of Uzbekistan, Trend reports with reference to RIA Novosti.
HPO Service Project Manager Valery Larin announced this on the sidelines of the II International Investment Forum, which is being held in Jizzakh.
"We estimate the cost of the project at $450 million, and it will be implemented in five stages," he said.
The consortium to implement the construction project was established in May 2019 and HPO Service was determined as the project operator.
According to the German company, the processing capacity of the MPC will be up to five million tons of ore with the production of zinc, lead and cadmium concentrate. Part of the products will be delivered to the Jizzakh Battery Plant.
Currently, the consortium is carrying out preparatory work, including calculating the reserves of the deposit according to the Joint Ore Reserves Committee (JORC), as well as preparing a feasibility study for the project.
“By the end of the year, we expect to get a license for the field,” Larin said.
According to his forecasts, in the first half of 2020, the consortium will complete the preparation and coordination in the government and begin to implement the project. The construction period of the MPC is estimated to be five years.
The State Committee for Geology and Mineral Resources of Uzbekistan underlines that the reserves of the Uch-Kulach lead-zinc-barite ore deposit (category B+C1) as of January 1, 2018, amounted to about 190 million tons.
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