President Shavkat Mirziyoyev Reviews Progress on Geology Sector Projects and Investments

President Shavkat Mirziyoyev Reviews Progress on Geology Sector Projects and Investments

Tashkent, The Gulf Observer: On July 09, 2024, President Shavkat Mirziyoyev examined the ongoing work and investment projects within the geology sector, according to Uzbek media reports.

The press service of the head of state provided details on the progress of tasks set earlier this year. Notably, nearly 3 million tons of coal were mined in the first half of the year. The “Shargunkomir” joint-stock company has fully operational mechanized underground complexes, achieving a coal production rate of 3.5 thousand tons per night.

Plans for the second half of the year include mining over 5 million tons of coal, with allocations as follows: 1.8 million tons to thermal power plants, more than 1 million tons to the general population, 540 thousand tons to social institutions, and 1.8 million tons for sale on the stock exchange. Overall, coal production this year is projected to exceed last year’s figures by 1.4 million tons, significantly reducing imports.

Several investment projects are underway within the sector. The Chinese company “Henan” is set to invest $400 million directly into developing the Nishbosh mine, aiming to produce up to 8 million tons of coal annually and enrich 5 million tons of it. Additionally, the country holds a significant reserve of kaolin, with 396,000 tons currently being mined by entrepreneurs. By 2024-2025, seven new mines will be introduced under the Geology program, increasing production volume to 2.7 million tons.

In the Tashkent region, the “Apartak-3” field is being developed in partnership with the Turkish company “Bab Energy ve Petrol Urunleri AS”. This $15 million project is expected to create 40 new jobs and produce 70,000 tons of enriched kaolin annually.

Following a meeting on April 29, the state established the “Technological Metals Combine of Uzbekistan” joint-stock company, focusing on minerals vital for industry. This entity has initiated 34 projects valued at $40 million, targeting scientific and technological research and geological exploration.

Efforts are also being made to foster international cooperation by involving leading foreign companies and qualified experts. Notably, during the recent visit of the President of the Republic of Korea, an agreement was signed with the “KIGAM” Institute for a $10 million grant project to search for rare minerals, conduct technological research, and digitize processes. Additionally, cooperation projects with the People’s Republic of China, totaling $800 million, are progressing.

President Mirziyoyev directed further expansion of geological exploration and emphasized the need to produce value-added products from the extracted raw materials, reinforcing the country’s commitment to advancing its geology sector.