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NEWS

Uzbekistan offers 29 mineral deposits to foreign investors

www.azernews.az
8 June 2017

Uzbekistan has offered 29 deposits of strategically important solid minerals, including 12 gold deposits to foreign investors for industrial development.

The investors were also invited to develop eight deposits of tungsten and three deposits of uranium, iron and lithium, each, in accordance with the Uzbek government’s decree.

In addition, potential foreign investors were invited to participate in the geological study of 111 sites prospective for noble, colored, black and rare earth elements.

A list of deposits and promising areas offered to foreign investors have been approved, and the criteria for their selection have been determined by the decree. One of the selection criteria is that the deposits and promising areas shouldn’t be in the long-term state programs for the development of the Uzbek mineral resources and similar programs of Navoi and Almalyk mining and smelting plants.

The lists of the deposits and promising areas offered to foreign investors will be updated every five years taking into account newly obtained geological information.

Uzbekistan has large mineral reserves, which include more than 1,800 known mineral deposits. The country’s mineral resources include petroleum, natural gas, gold, silver, uranium, molybdenum, tungsten, coal, copper, zinc and lead. Uranium, copper and gold are the country’s chief minerals.

Attraction of the foreign investors comes from the following factors. Firstly, Uzbekistan has significant resources for increasing capacities of the operating enterprise and creation of new ones. Secondly, the Republic possesses a highly developed efficiency of the mineral industry, a favorable infrastructure and highly skilled manpower. Thirdly, many deposits can be developed by open mining which is the cheapest method. Finally, Uzbekistan has the favorable investment climate provided by «The Subsoil Law» and a support by the governing bodies.