Monday, 25, March, 2019

Turkish Tasaypi and the Uzbekistan Committee for Geology and Mineral Resources on October 25 signed an agreement for the development of two gold deposits in the Samarkand province, the committee said in a statement.

As part of the deal, the parties will carry out joint exploration and development of Galabulak and Kushtepa deposits.

Within four months, the Turkish company will carry out drilling operations at the sites, tests for the development of process schedules and will also develop a preliminary feasibility study for the development project.

Subject to the positive results of the first phase of the project, the parties will agree on the forms and conditions for cooperation in the development of gold deposits.

According to the Resolution of the Cabinet of Ministers of Uzbekistan dated May 31, 2017, the gold-quartz and gold-sulphide-quartz ores at the Galabulak and Kushtepa deposits are estimated to contain about 5.9 tons of gold. In total, the government has approved 31 promising sites and 12 deposits with estimated reserves of 151 tons of gold and 1,200 tons of silver.

In May, the State Committee on Geology and the Ministry of Energy and Natural Resources of Turkey signed an agreement to study three prospective gold ore areas in the Jizzakh and Navoi provinces. Exploration is expected to begin this year. Within three years, the Turkish companies plans to contribute US$ 5 million to the project.

Latest in Economy