Government approves feasibility study of project “Development of Muruntau open-cast mine” (stage V) phase I”
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan has approved a feasibility study (FS) of the investment project “Refining the Muruntau open-cast mine (stage V) phase I”.
According to the document, the Navoi Mining and Metallurgical Combine (US$) in 2018–2027 will implement a project to expand gold production at the Muruntau open-pit mine.
The cost of the project is US$733.9 million. The feasibility study envisages completion of the fifth stage of the Muruntau open-pit mine (the first phase). The project will increase production to 47 million tonnes of ore per year.
NGMK will allocate US$445.9 million of its own funds for the project. The Fund for Reconstruction and Development of Uzbekistan (FRRU) will provide a loan in the amount of US$288 million.
It should be mentioned that the Muruntau quarry is one of the largest gold ore deposits in the world.