Uzbekistan, Tashkent, Jan. 30 / Trend, D. Azizov /
Almalyk Mining and Metallurgical Combine (AMMC, Almalyk, Tashkent Region) began construction of the Samarchuk gold mine in Tashkent region, a source from the plant told Trend on Wednesday.
The project worth $74 million includes the construction of an underground mine at Samarchuk based on the existing Kyzyl Olma field with a capacity of up to 200,000 tons of ore per year.
Completion is scheduled for the end of 2015.
The project is financed with $35 million of AMMC's own funds and through a loan from the Fund for Reconstruction and Development of Uzbekistan for $ 14.2 million and loans from Uzbek banks for a total amount of $24.8 million.
According to the "golden production" modernization program adopted for maintenance of the capacity and compensation for the retirement of enterprises in ore deposit exploitation, the AMMC plans to intensify work on opening new horizons on operating mines, build new facilities and reconstruct Angren gold processing plant by 2016.
In 2007, the AMMC completed reconstruction of the existing mine at Kyzyl Olma and Kochbulak fields in Tashkent region worth $ 49.4 million. During the intensification of stripping works in the mines and reconstruction of the Angren gold processing plant, ore processing capacity increased to 600,000 tons per year. The project was financed by the enterprises own funds.
According to Goskomgeo Uzbekistan, 41 fields of gold have been discovered in the republic by now, of which nine fields are being developed.
Almalyk MMC is the only copper producer in Uzbekistan, one of the largest manufacturers of non-ferrous metals in Central Asian. The AMMC accounts for nearly 90% of silver production and 20% of gold production in the country. The plant consists is composed of two mining companies, two processing plants and two metallurgical plants.
The plant has the right to develop copper-molybdenum and lead-zinc ores in the area of Almalyk (Tashkent region). The AMMC's resource base includes copper-porphyry ores Kalmakyr and Sary Cheku (Tashkent region) and the deposit of lead-zinc-barite ore Uch-Kulach (Djizzak).
The total volume of production is estimated at more than $ 300 million annually.