Kazakh companies ready to conduct exploration works in Uzbekistan

6 December 2017 18:54 (UTC+04:00)

By Kamila Aliyeva

Kazakh companies specializing in geological exploration are ready to work in Uzbekistan.

This was announced by general director of the Kazakh-Australian company Aurora Minerals Group Kaisar Kozhamuratov at the 10th international conference Uzgeoinvest-2017, Kazinform reported.

“Uzbekistan has always been interesting for us in terms of geological exploration, since there are a lot of large deposits here. Therefore, investors have always been interested, and in the light of the recent positive developments taking place in the country we came here to explore the potential of the country. In the future, we are ready to enter the Uzbek market and provide our services to potential customers,” he said.

In addition, the head of the Aurora Minerals Group noted that his company's clients are more interested in projects in the field of mining of precious, non-ferrous and polymetals.

At the same time, according to the State Balance of Mineral Reserves, as of January 1, 2017, as many as 1931 deposits were discovered in Uzbekistan, including 1043 deposits that were discovered during the years of independence. Uzbekistan’s Goskomgeologii in accordance with the established procedure issued subsoil users 1014 licenses for the right to use subsoil blocks.

Currently, according to the decision of the Uzbek government, 29 deposits and 111 promising areas of solid minerals are offered to foreign investors. They include 12 deposits and 31 promising areas for precious metals (gold, silver), 18 non-ferrous metals (copper, lead and zinc), 14 deposits as well as 51 areas for rare and rare-earth metals and uranium.

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.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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