The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, AUCC places primary emphasis on serving the needs and interests of its members.

Discover the Potential of Uzbekistan: The American-Uzbek Business Forum

OXUS GOLD PLC

Oxus Gold plc ('Oxus') is a producing gold mining company with primary operations inside the Republic of Uzbekistan.  Founded in 1996, Oxus listed on London's Alternative Investment Market (AIM) in 2001 and is currently producing significant quantities of both gold and silver from its 50% stake in the Amantaytau Goldfields JV (AGF) which is located in the Kyzylkum region of Uzbekistan. To date AGF has produced approximately 500,000 ounces of gold and silver (expressed as gold equivalent ounces) from its two operations and a third mine, the Asaukak Heap Leach, is due to be built by the end of 2008 which will process one million tonnes per annum of ore.

Total AGF ‘Proven and Probable' reserves were 2,839,000 ozs of gold and 6,739,000 ozs of silver (of which half are attributable to Oxus), under JORC classification.

In May 2008 Oxus announced that it has mandated The Royal Bank of Scotland to arrange a project finance facility of approximately 0 million of which RBS has underwritten 50% of the total.  The Facility will be used to enable AGF to develop its Phase 2 underground sulphides project. Oxus also announced the placing of US$ 18.5m of convertible notes with existing institutional shareholders.

The sulphide mine is expected to be in production in 2010 with the bankable study showing production of 300,000 ounces of gold in its first full year.

AGF is situated on one of the world's largest areas of gold endowment,  the Tien Shan belt, second only in size to that of the Witwatersrand basin.  AGF also enjoys the benefit of being positioned just 40 kms south of the world's largest single open pit gold mine at Muruntau.

* Oxus Gold plc was incorporated in England and Wales