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Economy 14/08/2012 NGMK to invest US$28m to modernization of gold production
NGMK to invest US$28m to modernization of gold production
Tashkent, Uzbekistan (UzDaily.com) -- Navoi Mining and Metallurgy Combine (NGMK) will invest US$28 million to modernization of production of gold with heap leaching method in 2012-2015.

RIA Novosti reported that the modernization envisages expansion of working area of the fifth heap leaching pillows, which will allow to increase ore supply by 20%, which earlier were not used. The project will be implemented within 2.5 years.

In the end of 2011, NGMK completed the first stage of modernization of heap leaching capacities, which envisaged construction of the fifth phase of heap leaching pillow with the cost of US$25.3 million.

The project was financed due to own resources of NGMK and loan of the Fund for Reconstruction and Development of Uzbekistan at the size of US$8.3 million.

The modernization of the capacities will allow to use it at least till 2025.

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