President of Uzbekistan Shavkat Mirziyoyev has approved the construction of a new mining and processing complex at the Tebinbulak deposits.

The complex will have been constructed by 2024.

The total cost of the construction is estimated at $1.5 billion, with a part to be represented by a loan from Chinese banks.

The Tebinbulak titanium-magnetite ore deposits are situated in Karakalpakstan. Their confirmed reserves are 450 million tons of ore. (Ukrainian metal)

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