International news within the industry of mining and metal, Dec, 17 2018
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Uzbekistan eyes $734M gold project

Photo: Navoi Mining
Photo: Navoi Mining
Published by
Jaroslaw Adamowski - 12 Nov 2018

Uzbekistan’s President Shavkat Mirziyoyev has approved a feasibility study of the Muruntau open pit gold mine. The investment is estimated to be worth close to $734 million.

 

Of these, some $445.9 million are to be invested in the project by local company Navoi Mining and Metallurgical Combinat, and a fur-ther $288 million will be covered by a loan provided by the Fund for Reconstruction and Development of Uzbekistan, according to the in-formation obtained by local news agency Trend.

 

The state-run Navoi Mining and Metallurgical Combinat specialises in gold, silver and uranium production, among others.