Tuesday, 21, May, 2019

Data on reserves, mining and sales of minerals, including precious and rare metals, may be disclosed for the public in Uzbekistan, according to the draft government resolution.

The draft was published on the portal of the system for assessing the impact of legislation (PSAIL) for public consultation until the end of November. The draft was prepared by the Ministry of Finance.

"Restrictions on the official publication of the following information: data on reserves, extraction and sales of minerals in Uzbekistan shall be scrapped," the document says.

According to the draft, Almalyk Mining and Metallurgical Combine (AMMC) and Navoi Mining and Metallurgical Combine (NMMC) will disclose for the public their financial statements from 2013, contaiing information about the production volumes. AMMC and NMMC are currently the only gold producers in Uzbekistan. Public dsclosure is aimed at further improving the transparency of statistical data and the attractiveness of the Uzbekistan's investment climate, the draft noted.

Uzbekistan currently does not disclose official information on the trend of mined gold, silver and other non-ferrous and rare-earth metals.

According to the US Geological Survey, in 2014 Uzbekistan produced 102 tons of gold, a 4% increase compared to 2013.

According to the Uzbek Geology committee, 63 gold deposits were discovered in Uzbekistan by 2012, more recent data were not disclosed. According to expert estimates, the size of proven gold reserves in Uzbekistan is estimated at over 2.5 thousand tons.

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