BAKU, Azerbaijan, May 20. Uzbekistan will develop a program of geological exploration for 2022-2026, Trend reports via the press service of the president of Uzbekistan.
The program will provide for an increase in uranium reserves through the development of 8 new deposits and 18 promising areas, the use of modern drilling equipment from abroad, and the creation of a digital geological model.
On May 19, President of Uzbekistan Shavkat Mirziyoyev got acquainted with the presentation of projects aimed at further developing the geological industry, increasing mineral reserves and underground water resources.
In recent years, as a result of both scientific and technological strengthening of the domestic geological sphere, the scope of geological exploration has expanded, and new deposits have been discovered. Large enterprises are being built on their basis and promising projects are being developed.
In particular, 27 new uranium deposits have been discovered, and a stable raw material base has been created. However, there are still many untapped opportunities in the field. In this regard, the president instructed to increase the extraction of valuable and rare metals.
In this regard, 14 projects have been formed for a total of $182 million.
During the presentation, the importance of assessing uranium reserves in accordance with international standards, and increasing the efficiency of extracting uranium from ore based on the latest technologies was emphasized.
Proposals to develop promising deposits and attract investors to them were also considered. Thus, under the Fund for Reconstruction and Development of Uzbekistan, it is planned to create a Yangi Kon project office with an authorized capital of $15 million. This project office will implement investment projects for the extraction of lithium, aluminum, magnesium, graphite, and other rare metals.