Uzbekistan suspends project on tungsten mining in Samarkand region
09/09/2014 12:55
Uzbekistan suspends project on tungsten mining in Samarkand region
09/09/2014 12:55
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan adopted a decision to suspend a project on rehabilitation of tungsten production at Ingichke field in Samarkand region for uncertain period of time, RIA Novosi reported quoting source, close to the project.
The source said that the price uncertainty and excess of the metal on the market today are not allowing to make long-term forecasts, so the project was postponed. The project can be revived in summer of 2015.
The first phase of the project with preliminary cost of US$50 million envisaged rehabilitation of mine with the capacity of at least 300,000 tonnes of tungsten a year. In the second phase, it is planned to construct new enrichment plant. The capacity and the cost of which were not determined.
In last two years, the State Committee of Geology and Mineral Resources of Uzbekistan held negotiations with Korean and Chinese companies to develop feasibility study of the project. But the agreements with the sides were not signed.
Mining of tungsten at Ingichke field started in 1941. The field was closed down temporarily in 1996 due to low prices for tungsten. Uzbek Combine of Refractory and High-Temperature Metals, which processed 2,000 tonnes of tungsten concentrate a year, had to work with imported tungsten and decrease production volume.
In June 2013, the State Committee of Geology and Mineral Resources of Uzbekistan and Shindong Resources (South Korea) founded a joint venture Uzbekistan-Korea Tungsten to develop tungsten field Sautbai in Navoi region.
The project with the cost of US$145 million will be financed due to loans of international financial institutions and investments of founders of the joint venture.
The project participants are planning to construct processing enterprise with the capacity of 1,500 tonnes of highly enriched tungsten concentrate a year. The construction of the complex should be started in 2015.
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