28 November 2018, IFG Capital Partners SA (“IFG”), the Central Asian focused advisory and investment company, is pleased to give an update on its project to develop the Yakhton tungsten deposit in the Samarkand region of Uzbekistan.
The pre-feasibility study (PTEO) which was started in August 2018 has been successfully completed in accordance with the deadlines set by the Uzbek government. As a result, the formal application for an exploitation license has now been submitted to the appropriate government bodies. IFG expects that this will be granted in early 2019.
IFG intends to initiate project construction in mid 2019 and plant commissioning by early 2020.
Yakhton is a tungsten deposit located 55 km south of Samarkand. It has Russian B+C1 reserves of 22,147 tons of tungsten trioxide.
About IFG Capital SA
IFG is an independent investment firm focusing on Uzbekistan and wider Central Asia. It offers a full range of business and financial advisory services as well as metals & mining expertise through its subsidiary IFG Metals & Mining. It is led by a team of professionals who combine best western practice with intimate local knowledge, operating from its head office in Luxembourg with a Central Asian regional office in Tashkent. More information can be found at www.ifg-capital.com