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Prospects for the development of the raw materials base of NGMK

July 01
18:07 2020

Tashkent, Uzbekistan (UzDaily.com) — The extraction and processing of mineral raw materials occupies a leading position in the economy of the Republic of Uzbekistan, determining the development of industrial production and the rational use of labor resources. The current state of the mineral resource base of the mining and processing industries ensures the stable operation of industrial enterprises for the long term.

The gold ore resource base of the Navoi Mining and Metallurgical Combine includes about 20 deposits in Western Uzbekistan. The total ore reserves of these deposits are 2.12 billion tons. Of these, active operating reserves, the appropriateness of the development of which is confirmed by technical and economic calculations, is 1.99 billion tons. The remainder is currently classified as potential (prospective) reserves. The involvement of these reserves in industrial development requires the development of thorough feasibility studies.

According to the decree of the President of the Republic of Uzbekistan “On measures to reform the State Enterprise“ Navoi Mining and Metallurgical Combine ”from 6 March 2020, the transition to the introduction of corporate disclosures in accordance with the principles and requirements of the International Accounting and Reporting Standards (ISAR), publication of reports, in including on economic, social and environmental issues in accordance with the Global Reporting Initiative (GRI), revaluation of reserves in accordance with the Australian Accounting Standards for Exploration Results, Mineral Resources and Ore Reserves (JORC CODE).

Currently, NGMK has prepared reports on the revaluation of reserves in accordance with the standards of the Australian Mineral Resources and Ore Reserve Reporting Code (JORC CODE) for 10 deposits. Until the end of 2020, it is planned to prepare reports on 12 new facilities on its own. In general, the revaluation of 22 facilities will provide 90 percent of the reserves on the plant’s balance sheet.

The raw material base of the NGMK in 2020-2021 and in the long term (2022-2030) is expanded in accordance with the decree of the President of the Republic of Uzbekistan “On measures to further improve the geological study of mineral resources and implement the State program for the development and reproduction of the mineral resource base for 2020 -2021” from 23 July 2019 in Bukantau, Auminza-Beltau, Tamdytauand Samarkand mining regions of the State Unitary Enterprises Kyzylkumgeologiya and Samarkandgeologiya of the State Committee for Geology and Mineral Resources.

In order to ensure the uninterrupted operation of the plant in March of this year, on the basis of direct negotiations with the State Committee on Geology and Mineral Resources, 12 licenses for the right to use subsoil blocks for mining were updated and 14 licenses for new ones prepared for development of the field were obtained.

In accordance with the requirements of the Australian JORC CODE Code, in June this year, the construction of a modern core storage facility was launched on the basis of the Central Exploration Party of NGMK. Design and estimate documentation worth 5 billion soums was developed.

The development of the mineral and raw material base of the Navoi Mining and Metallurgical Combine, taking into account the implementation of modern international standards and international best practices, increases the investment attractiveness of the mill and the recognition of its products by the international community.

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