The Egyptian company In2Metals entered the second phase of its copper mine development project in Uzbekistan’s Navoi region, according to the Dunyo news agency.
The project has already received $700,000 in investment, with plans to boost this amount to $2 mln by year-end.
Workers drilled 1,400 metres on-site, aiming to reach a total of 3,000 metres by the end of the year.
Project operations began in September.
Kursiv Uzbekistan also reports that Navoi Mining and Metallurgical Combinat raised $150 mln to expand its production capacity.
