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82 E&MJ; • JUNE 2014 www.e-mj.com During the next 10 to 12 years, Uzbeki- stan will initiate mining operations at 20 new gold deposits with a record level of capital investment, according to the development programs of the country's largest companies. The work was expected to begin in earnest by the end of 2013 with increased explora- tion, development and production activity. In addition to proving up gold reserves, by 2020, the volume of Uzbek gold production is expected to increase to 120 metric tons per year (mt/y) from 90 mt/y today. Uzbekistan has the fourth largest known gold reserves and is the ninth largest gold-producing country. It should be noted that most of the infor- mation regarding gold production and reserves is classified as "gold mining along with uranium mining." Exports of Gold Mining in Uzbekistan 2005 2010 2012 2013 2015 2020 2025 Navoi Mining and Metallurgical Co. 0 50 0 52 0 59 0 60 0 63 0 81 0 96 Almalyk Mining and Metallurgical Co. 0 15 0 17 0 18 0 18 0 21 0 28 0 31 Other 0 10 0 11 0 12 0 12 0 12 0 11 0 10 Total Production (mt) 0 75 0 80 0 89 0 90 0 96 120 130 Operating gold deposits 00 7 00 7 00 8 00 9 0 14 0 22 0 27 Investment ($ millions) 115 160 500 552 645 675 680 Productivity (mt/1,000 miners) 0.60 0.65 0.73 0.71 0.76 1.01 1.32 Miners (1,000s) 124 123 124 126 125 118 0 98 Average depth of mining (m) 480 495 510 515 520 500 490 U Z B E K G O L D Uzbekistan Plans to Increase Gold Production State-owned gold miners are rebuilding old works and opening new mines to grow production in the face of retiring capacity By Vladislav Vorotnikov EMJ_pg82-87_EMJ_pg82-87 6/4/14 10:33 AM Page 82