IFG Capital Partners and the State Committee of the Republic of Uzbekistan on Geology and Mineral Resources (GOSCOMGEOLOGY) have signed an agreement to undertake a feasibility study on the development of the Yakhton tungsten deposit in Uzbekistan.

Located near the town of Urgut in the Samarkand region of Uzbekistan, the Yakhton deposit has estimated reserves of 22,147t of tungsten trioxide.

IFG will also organise the industrial development of the deposit if the results from the study are positive.

“We are confident that this has the potential to become a world class tungsten operation.”

Expected to commence immediately, the first phase of the study will include verification drilling, metallurgical test work and the design of a processing facility.

The verification drilling will be carried out to confirm existing reserves, while the test work is designed to determine the optimal ore processing scenario.

GOSCOMGEOLOGY chairman Bobir Islamov said: “We are confident that this has the potential to become a world class tungsten operation. This agreement marks another major step in the accelerating growth of outside investment and expertise into Uzbekistan.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

IFG noted that the development of Yakhton will pave the way for building a tungsten cluster in the country through the consolidation of several low-margin deposits into an industry leader built around a processing facility.

IFG Metals and Mining managing partner Olga Ponkratova said: “We know the vast potential that Uzbekistan offers in metals and mining space and we are pleased that our expertise has been recognised by the Government as their chosen partner to develop such a great opportunity.

“We believe that this agreement will form the framework for future cooperation with GOSCOMGEOLOGY and will be a major stepping stone of our programme to make Uzbekistan not only a world-class tungsten producer but also an attractive investment destination.”

The investment firm is focused on Uzbekistan and other Central Asian markets, offering business and financial advisory services as well as metals and mining expertise.