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)