NGMK to invest US$26m to development gold-ore field Charmitan

The project envisages to mining and process horizons for 660 meters and 600 meters in the central part of the field in 2014-2016. Charmitan is a part of the resource base of the hydrometallurgical plant-4 (HMP-4) in Zarmitan (Samarkand region).

Earlier reported, NGMK will invest US$112.3 million to increase gold production at HMP-4. The programme will help to increase processing capacities by 30% - to 1.8 million tonnes of ore a year.

Construction of HMP-4 with the cost of US$330 million was started in 2007. The project envisages utilization of Charmitan, Gujumsay and Promejutochnoye fields, as well as construction of gold extracting capacities for 10 tonnes of gold a year.

Currently, the capacity of the complex makes up 1.4 million tonnes of ore a year. The project is financed due to own resources of NGMK and loans of the Fund for Reconstruction and Development of Uzbekistan.