Uzbekistan to increase gold and silver production up to 300 tons in 2021

A presidential decree on measures to further improve the geological study of the subsoil and implementation of the State Program for development and reproduction of the mineral-resource base for 2020-2021 has been adopted, the Justice Ministry reports.

In accordance with the decree, the State Program for development and reproduction of the mineral-resource base for 2020-2021 was approved.

As part of the program, in 2020, the share of prospective mineral resource search will be increased up to 35%, and in 2021 – up to 40%.

In 2020, gold and silver production will be increased up to 150 tons, and in 2021 – up to 300 tons.

The program will be allocated 2 trillion 371 billion 9 million soums.

In accordance with the resolution, a Roadmap is approved to further improve the exploration, rational study and development of the subsoil, as well as increase the investment attractiveness of the mining-geological sector for 2019-2020.

As part of the Roadmap, international standards will be implemented for preparation of reports on the results of geological exploration and approval of mineral reserves in accordance with the JORC Code.

A unified electronic online platform will be introduced to post information on promising areas and solid mineral deposits.

A draft presidential decree will be developed to further improve the system for attracting investments for development of strategically important types of solid minerals.

The draft document envisages a review of the size of subscription bonus rates for the right to explore and search for minerals.

There will also be a guarantee of the tax legislation immutability for the entire period of the investment project.