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NEWS

AGMK announces tender for construction of gold mine

27 February 2013

www.uzdaily.com of 2/27/2013 - Almalyk Mining and Metallurgy Combinate (AGMK) announced a tender within the construction of mine on gold production in Tashkent region. The starting price of the tender is US$18.9 million.

RIA Novosti reported quoting source in the company that tender was announced for driving of the vertical shaft of the mine field Samarchuk in Kyzylalma deposit on "turnkey" bases. The bids are accepted until 26 March and the results of the competition will be announced in April.

The project cost is US$74 million. The project envisages construction of underground mine at Samarchuk field on the base of existing Kyzylalma deposit. The capacity of mine will be 200,000 tonnes of ores a year. The project will be implemented within two years.

The project will be financed due own resources of AGM for US$35 million, loan of Fund for Reconstruction and Development of Uzbekistan - US$14.2 million and loans of Uzbek banks - US$24.8 million.

AGMK is only producer of copper in Uzbekistan. It also produces 90% of silver, produced in Uzbekistan, and 20% of gold.