The State Program for Development and Reproduction of the Mineral and Raw Material Base for 2020–2021 approved

Tashkent, Uzbekistan (UzDaily.com) - A presidential resolution was adopted “On measures to further improve the geological study of the subsoil and implement the State Program for the Development and Reproduction of the Mineral and Raw Material Base for 2020–2021”.

Under the Program, the share of prospective mineral resource search will be increased to 35 percent in 2020, and to 40 percent in 2021. In 2020, gold and silver production will be increased to 150 tonnes, and in 2021 - to 300 tonnes. About 2 trillion 371 billion 9 million soums will be directed to implementation of the programme.

The Resolution approved the “Road Map” to further improve the exploration, rational study and development of the subsoil, as well as increase the investment attractiveness of the mining and geological sector for 2019-2020. As part of the Roadmap, international standards will be implemented for the 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 resolution will be developed to further improve the system of attracting investm

The State Program for Development and Reproduction of the Mineral and Raw Material Base for 2020–2021 approved

ents for the development of strategically important types of solid minerals. The draft document will envisage review of the size of the rates of the subscription bonus for the right to explore and search for minerals.

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