BAKU, Azerbaijan, Sept. 16
By Fakhri Vakilov – Trend:
The Cabinet of Ministers of Uzbekistan has approved a feasibility study for the investment project "Construction of a complex for the extraction and processing of gold ore at the Pistali deposit (6-GMZ)," Trend reports citing Norma.uz.
The processing complex itself will be commissioned only in 2024. Out of the $274.67 million required for the implementation of this project, the number of foreign loans will be $245.07 million.
However, the feasibility study of the project states that all foreign loans will be fully repaid within five years, and the project itself will pay off in full in 7.9 years. This result will be achieved by increasing the existing capacity by 4 million tons of gold ore. Furthermore, the new enterprise will create 2,110 jobs.
The Navoi Mining and Metallurgical Combine will be repaying loans.
Last year, Uzbekistan ranked 8th among the gold-mining countries. Over 100 tons of pure gold are extracted annually from the subsoil.
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