By Abdul Kerimkhanov
Uzbekistan produces more than 100 tons of gold annually. Navoi and Almalyk mining and metallurgical plants produce 20 and 70 percent of the total precious metal production in the country, respectively.
Uzbekistan intends to bring the annual gold and silver production to 300 tons by 2021, according to the Ministry of Justice.
This is envisaged in the State Program for the Development and Reproduction of the Mineral and Raw Material Base for 2020–2021. Within its framework, the share of the search for promising mineral resources will be increased to 35 percent in 2020, and to 40 percent in 2021.
As Justice Ministry informed, in 2020, gold and silver production will be increased to 150 tons, and in 2021 - to 300 tons, and 2.3 trillion soums ($266 million) will be allocated for the implementation of the program.
The presidential decree also approved a road map to further improve the exploration, rational study and development of the subsoil, as well as increase the investment attractiveness of the mining and geological sector for 2019-2020.
As part of the implementation of the roadmap, international standards for the preparation of reports on the results of geological exploration and approval of mineral reserves in accordance with the JORC Code will be implemented. Besides, a single electronic online platform will appear for posting information on prospective areas and deposits of solid minerals.
Another important area is the development of a draft presidential decree to further improve the system for attracting investments for the development of strategically important types of solid minerals.
The draft document will revise the rates of the subscription bonus for the right of exploration and prospecting for minerals and will guarantee the immutability of tax legislation for the entire period of the investment project.
So far, more than 60 gold deposits were discovered in Uzbekistan.
Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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