Regulations on procedure for carrying out activities for extraction of precious metals by prospecting method approved

Tashkent, Uzbekistan (UzDaily.com) -- Government of Uzbekistan approved a regulation on the procedure for carrying out activities on the extraction of precious metals by the prospecting method.

In accordance with the Regulation, licenses for the right to extract precious metals by the prospecting method are issued on the basis of trading results for “E-AUKSION” for a period of 3 years.

After approval of the List of Subsoil Plots, the State Committee on Geology and Mineral Resources prepares information for the auction within 5 days.

The announcement of the tender must be published 5 days before the auction.

Applications for participation in the auction are accepted on the website of the Center for the organization of electronic online auctions (e-auksion.uz).

The applicant must place a deposit in the amount of 5% of the estimated value of the land plot to the settlement account.

The starting price of the land is set at 7.5 million soums, the price rises every 10 minutes.

Together with the issuance of a license by the State Committee on Geology and Mineral Resources, the state registration of the right to use a land plot is carried out.

Before starting mining operations, it is necessary to notify the local authorities, the Committee on Ecology and Environmental Protection, the Industrial Safety Committee and the Inspectorate for the Control of Mining and Geological Activities.

The metals extracted by the prospecting method on these subsoil are sold by prospectors through specialized cash offices, as well as to licensed entrepreneurs.

In addition, the Government resolution approved the List of subsoil plots for which prospecting mining activities in 2019 are permitted.

In accordance with the List, only 403.4 hectares of land will be allocated for 405 plots in Navoi and Samarkand regions for the prospecting for mining activities in 2019.