Gov’t approves regulation on procedure for extracting precious metals by entrepreneurs 

In accordance with the document, permits for the extraction of precious metals are issued for subsoil plots, annually approved by the State Geological Committee. The subsoil plot should have clear contours and boundaries, with an area of up to 5 hectares.

Subsoil plots will be placed on the E-auction portal for open bidding and the starting price per hectare will be set at 35 times the amount of the BCA (9 million 450 thousand soums).

Permits are issued only to residents of Uzbekistan for 3 years based on the results of trading on the E-auction portal. Before starting work, permit holders must notify the local administration, the Committee for Ecology, the Committee for Industrial Safety and the Inspectorate for Control of Mining and Geological Activities in writing.

The mined precious metals are sold through cash desks to jewelry manufacturers.