IFG Metals & Mining and the State Committee on Geology and Mineral Resources have signed an exclusive agreement on the prospecting and development of 7 tungsten deposits.
Under the agreement a tungsten cluster will be created in Uzbekistan. Investments in 25-30 years will reach $300 million, and some 1500 jobs will be created.
IFG will analyze the Ingichik, Gussay, Sarykul, Kara-Tyube, Lyangar and Koytash deposits, as well as Yakhton.
7 deposits are expected to produce 5.7 thousand tons of tungsten per year, or some 6% of the world output. (Ukrainian metal)