Uzbekistan sells major gold deposits in Navoi and Tashkent regions to private companies

In the past three days, three large gold deposits in Uzbekistan – Temirchi and Pirali in Navoi region and Terekli in Tashkent region – were sold at auction for a combined $20 million. In one of the lots, bidding lasted nearly 24 hours, with the asset’s value rising 24-fold from the starting price.

Temirchi gold deposit

On August 18, the Temirchi gold deposit in Nurata district, Navoi region, was sold through the E-Auksion platform. Covering an area of 249 hectares, it is estimated to contain 6 tons of gold reserves.

The deposit was initially put up for sale at a starting price of UZS 4.12 billion. After almost 12 hours of bidding, the asset was sold for UZS 67.78 billion – 16.5 times higher than its initial valuation.

The winning bidder was Zauris LLC, registered in Tashkent on July 4, 2025. Its declared business activity is the extraction of non-ferrous metal ores, with a charter capital of UZS 10 million.

The company is fully owned by Feruza Fayzieva, who is also listed as its director.

Terekli gold deposit

On August 19, the Terekli gold deposit in Ohangaron district, Tashkent region, was auctioned. Located 9.6 km southeast of the village of Shaugaz, the deposit covers 65 hectares and is estimated to hold 2 tons of gold.

After nearly 12 hours of bidding, Toyloq Toza Hudud LLC emerged as the winner with an offer of UZS 81.79 billion – 19.8 times higher than the starting price of UZS 4.12 billion.

The company was registered in Samarqand region on March 10, 2021. Its declared activity is the leasing and management of multi-apartment housing and residential properties. Its charter capital amounts to UZS 67.8 billion.

The company is fully owned by Bakhtiyor Marupov, while Ulugbek Rasulov is listed as its director.

Pirali gold deposit

On August 21, the Pirali deposit in Navbahor district, Navoi region, was sold for UZS 99.1 billion – 24 times higher than its starting price. The bidding lasted 23 hours and 29 minutes, with 461 increments before it concluded. The winner was NBK 111 LLC.

The Pirali site covers 484 hectares and is estimated to contain 2.4 tons of gold reserves.

NBK 111 LLC was registered in May 2024. Its declared activity is the extraction of non-ferrous metal ores, with a charter capital of UZS 1 billion.

The company’s ownership is split between Nurmakhmad Pulatov (60%) and Chinese citizen Zhang Qiang (40%). Farhod Tojiboev is listed as its director.

Rights and obligations of investors

The investors now have the right to explore gold at the acquired sites for a period of three years. They are required to use the prospecting method for extracting precious metals. All extracted mixtures, including any pure gold found, must be delivered to official collection points.

For reference, Uzbekistan legalized small-scale gold prospecting in 2019. That same year, the first list of deposits available for use was approved, covering more than 400 plots in Navoi and Samarqand regions.

Prepared by: Дониёр Тухсинов

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