Uzbekistan Approves State Program For The Development Of Mineral Resources

Uzbek Presidential Resolution No. 4401, "On measures to further improve the geological study of the subsoil and implement the State Program for the Development and Reproduction of the Mineral Resource Base for 2020-2021", dated July 23, aims to improve geological studies of the subsoil and implement a state program to develop the country's mineral resources.

In particular, as indicated in the resolution, the State Committee for Geology (hereinafter - "Goscomgeology"), with the assistance of international consulting companies, has developed a strategy for the development of the mineral resource base, taking into account modern international standards and high-level foreign experience.

The resolution approves the State Program for the Development and Reproduction of the Mineral Resource Base for 2020-2021, which envisages bringing the proportion of the search for promising mineral resources areas to 35% in 2020 and to 40% in 2021. This program includes parameters for increasing groundwater reserves and summary parameters for the growth of projected resources and mineral reserves. It is expected that the increase in forecast resources (P1 + P2) of gold will be 150 tons in 2020 and 300 tons in 2021, and the forecast of the growth in reserves (C1 + C2) is 40 tons in 2020 and 2021; the increase in silver resources will be 150 tons in 2020 and 300 tons in 2021, and the forecast for the increase in silver reserves is 123 tons and 127 tons, respectively.

Copper resources are forecast to increase by 148 tons in 2020 and 155 tons in 2021, and the growth in reserves by 40 tons and 41 tons, respectively. The main increase in gold and silver is forecast to come from the Kyzylkum geological and economic region, which boasts Muruntau, one of the largest gold deposits in the world. Navoi Mining and Metallurgical Complex (Navoi MMC) is the main producer operating in this region. Information on the plans of the government for Navoi MMC's transformation and privatization is available here.

The roadmap for the further improvement of exploration, study and development of the subsoil, as well as increasing the investment attractiveness of the mining and geological sector for 2019-2020, has been approved.

Thus, by October 1, 2019, a procedure should be developed according to which specific geological objects under state-owned Navoi MMC, the uranium mining and processing enterprise, as well as Almalyk MMC JSC, are allocated separately, and the new promising areas...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT