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NGMK to invest US$26m to development gold-ore field Charmitan

7 March 2014

Navoi Mining-Metallurgy Combine (NGMK) is planning to invest US$26 million of own resources to develop gold-ore field Charmitan in Samarkand region, RIA Novosti reported quoting source in combine on Thursday.

The project envisages to mining and process horizons for 660 meters and 600 meters in the central part of the field in 2014-2016. Charmitan is a part of the resource base of the hydrometallurgical plant-4 (HMP-4) in Zarmitan (Samarkand region).

Earlier reported, NGMK will invest US$112.3 million to increase gold production at HMP-4. The programme will help to increase processing capacities by 30% - to 1.8 million tonnes of ore a year.

Construction of HMP-4 with the cost of US$330 million was started in 2007. The project envisages utilization of Charmitan, Gujumsay and Promejutochnoye fields, as well as construction of gold extracting capacities for 10 tonnes of gold a year.

Currently, the capacity of the complex makes up 1.4 million tonnes of ore a year. The project is financed due to own resources of NGMK and loans of the Fund for Reconstruction and Development of Uzbekistan.