BISHKEK, Kyrgyzstan, August 1. Kyrgyzaltyn, a national enterprise of Kyrgyzstan, has been granted a license for geological exploration and exploitation of the Tash-Bulak section within the Kyzyl Ompol uranium deposit, Narynbek Satybaldiev, Deputy Chairman of Kyrgyzaltyn, announced at a press conference, Trend reports.
He said that the Tash-Bulak area is known to contain over 131 million tons of ore in the C1 and C2 categories, with significant titanium-magnetite reserves of about 1.6 million tons. Additionally, the deposit holds uranium, phosphorus, and zirconium.
Satybaldiev noted that the license was recently obtained, and no work has yet begun. The next steps include drafting a project, undergoing expert review, and then commencing operations.
"While Kyrgyzaltyn is considering developing the deposit independently, it may also seek an investor. The terms of any partnership with investors will be negotiated based on Kyrgyzstan's economic and national interests," he added.
In late June 2024, Kyrgyz President Sadyr Zhaparov signed a law lifting the country’s ban on uranium and thorium deposit development. However, authorities emphasize that the new law primarily targets the development of titanium-magnetite deposits, as the previous ban hindered the extraction of other rare metals from such deposits.
Kyrgyzaltyn, founded on October 15, 1992, is Kyrgyzstan’s largest national enterprise, specializing in the development of gold deposits and aimed at consolidating the country's mining industry.