The project on development of the Tebinbulak titanomagnetite ores field in Karakalpakstan (north-west Uzbekistan) in order to create its own raw material have revived Uzmetkombinat, which accounts for over 90 percent of steel products in the country, the State Committee on Geology and Mineral Resources (Goskomgeo) told Trend.
According to the State Committee on Geology, the project envisages the creation of the mining complex with a capacity of 14.7 million tonnes of iron ore with the release of titanium and vanadium, as well as the development of production of 1.5 million tonnes of steel products annually. Funding for the project worth $3 billion will be financed through foreign loans and means of the Uzbek side.
Source: http://en.trend.az
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