Turkey is investing in gold mining in Uzbekistan.  Companies from both countries signed off on more than 50 investment projects worth a total of 3 billion U.S. dollars.  

The Committee for Geology and Mineral Resources of Uzbekistan and the General Directorate for Mineral Research and Exploration of the Turkish Ministry of Energy and Natural Resources reached an agreement on joint geological exploration of the Khurob and Aydim-Jetimtau gold ore deposits, as well as the Sarytau ore deposit, according to Gazeta.uz

The agreement was reportedly signed on April 30 following the talks between the presidents of Uzbekistan and Turkey.

The US$ 5 million worth of exploration works are expected to begin this year. Reserves of the Khurob (in Jizzakh province) and Aydim-Dzhetymtau (in Navoi province) gold deposits have not yet been explored, while the tungsten reserves of the Sarytau ore field are estimated at 740,000 tons, molybdenum - 24 thousand tons and gold - 75.2 tons.

Meanwhile, companies from Uzbekistan and Turkey reportedly signed off on more than 50 investment projects worth a total of 3 billion U.S. dollars.

Mirziyoyev and Erdogan also sealed another 24 intergovernmental deals to increase cooperation in economic affairs, trade, transportation, science, education and tourism, among other areas.

Speaking during his three-day state visit to Uzbekistan, Turkish President Recep Tayyip Erdogan said on April 30 that annual trade turnover could be pushed up to $5 billion “in the coming years.”

“In 2017, the volume of bilateral trade between our nations rose by 30 percent and came to $1.5 billion.  And already in the first quarter of this year, we have seen the volume increase by 20 percent.  These indicators show that we are on the right path,” Erdogan said.  Addressing the Uzbek parliament, Erdogan said he wants to see more active partnership in industry, energy, agriculture and infrastructure.

At the moment, most of Uzbekistan’s exports to Turkey comprise non-ferrous metals, fruit and vegetables, nitrogen-based fertilizers and oil products. In the other direction, it is mainly mechanical equipment and electronics, textiles, pharmaceuticals, plastics and cosmetics.

Erdogan’s visit is a return of the same courtesy paid by Mirziyoyev, who traveled to Ankara in October.