The President of Uzbekistan approved technical-economic feasibility of the investment project “Developing Muruntau quarry (V turn) stage 1,” Kun.uz correspondent reports.

The project will ensure the replenishment of the retiring reserves of gold ore deposits in the contours of phase IV of “Muruntau” pit mine and the loading of the production capacity of “Navoi” Mining and Metallurgical Company (MMC) ore with the necessary content of precious metals.

Its total value exceeds $ 733 million, of which $ 445,9 million will be invested on the MMC “Navoi”. $ 288 million is a loan from the Fund for Reconstruction and Development of Uzbekistan.

Muruntau is one of the largest gold mines in the world. It is located on the mountains in the south-west of the Kyzylkum desert, on the territory of Tamdyn district, Navoi region of Uzbekistan. The mine was discovered in 1958, industrial production of the metal was started on July 21, 1969. 

It is the leading deposit of Zarafshan gold mining complex, which ranks second in terms of gold production (after the “Grasberg” enterprise in Indonesia). The largest gold mine in the world was created (length - 3.5 km, width - 2.7 km, depth - 600 m) to develop the field. 

Nowadays, about 38,5 million tons of ore are mined in Muruntau annually. By 2026, it is planned to increase ore mining to 50 million tons. 

It should be noted that by gold reserves, Uzbekistan ranks fourth in the world and by its production - seventh. In addition, the republic ranks second in gold production among the CIS countries (after Russia) and the first per capita.