Thu 10 2015 12:19:01
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan and South Korea will launch construction of mining and processing complex on the base of Sautbai field with the total cost of US$100 million.
Sputinik reported that Uz-Kor Tungsten will develop the field and construct the complex. The venture was created by the State Geology Committee of Uzbekistan (49% stake in the venture) and South Korea’s Shindon Resources (51%).
Director of Shindon Resources Ahn Je-Young told Sputnik that the complex will produce high-liquid tungsten, which will be exported fully. It is planned to complete banking feasibility study by the end of 2015 to open financing of the project.
In the first half of 2016, the venture will receive necessary licenses for mining and attract loans of the banks to construct the object. In the second half, the venture will start construction of the complex.
He said that some US$10 million will be spent to construct electricity supply objects, US$15 million – water supply facilities and US$2.5 million – gas pipeline.
According to the Uzbek committee, commercial reserves of Sautbai on C1 category makes up 4 million tonnes of ore, containing trioxide of tungsten at the volume of 17,000 tonnes. After Sautbai, the development works will start at Burgut, which have 4.1 million tonnes of ore, and Saginkan.