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As of August 1, Uzbekistan's official reserves reached $37.4 billion, 1.06 billion dollars more than a month ago, according to a Kun.uz report based on data from the Central Bank of the Republic of Uzbekistan. This reserve value is a record indicator for the period after 2018 when data disclosure began. Still, $37.4 billion is enough to cover 12 months of imports. The increase in the value of international reserves is mainly due to the continued rise in gold reserves and prices. The physical volume of gold in reserves increased by 310,000 ounces (9.64 tons) to 12.05 million ounces (374.8 tons), and the value reached $29.15 billion (+$1.84 billion). According to the Central Bank, the impact of the increase in the price of gold from $2,327.6 to $2,419.6 in July amounted to $1.11 billion. In July, foreign currency assets decreased by $781.5 million to $7.69 billion and since the beginning of the year, have declined by $1.68 billion, partly affected by the extinguishment of the sovereign Eurobonds issued in 2019, worth $500 million. The value of securities purchased by the Central Bank was 35.3 million dollars.
Australian Company to Help Digitalize Gold Mining in Uzbekistan A meeting of the plant's management with a delegation from the Australian company, Micromine took place at the representative office of JSC NMMC in Tashkent. During the meeting, strategic aspects of the digital transformation of NMMC JSC aimed at improving the efficiency and competitiveness of the plant were discussed. Representatives of both sides noted the importance of integrating modern technologies into the company's current projects in order to optimize processes and increase productivity. During the meeting, the parties also discussed the prospects for further cooperation, especially in the context of the digital transformation of the enterprise. It is noted that the use of modern technologies and tools can significantly improve the efficiency of mining operations and reduce the cost of mining. Micromine is known for its digital solutions for mining, engineering, and the optimization of production processes. It has a wide range of products and services covering almost all mining processes, the report states.
DUSHANBE (TCA) — China Nonferrous Gold Limited (CNG), the mineral exploration and mining company currently mining the Pakrut gold project in Tajikistan, said that on 29 December 2015, the first gold ingots were poured at the company’s wholly owned Pakrut gold project in Tajikistan. Continue reading
