Aurora Quest Services participated as a partner in the 3rd Uzbekistan International Mining Forum (UIMF), which took place on November 3-4, 2021 in Tashkent, Uzbekistan. The event was officialy supported by State Committee of the Republic of Uzbekistan for Geology and Mineral Resources. The topic of the Forum this year was “Mining, geological and metallurgical industries of Uzbekistan - drivers of economic development”.
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The mining industry of the Republic of Uzbekistan is going through a period of rapid development and becoming one of the leading sectors of the country's economy. Gold mining plays a particularly important role in the mining industry. Uzbekistan is one of the leading countries in the world for production and reserves of gold ore. In order to efficiently use resources and increase mining potential, a number of tax reforms as well as innovations in the subsoil use legislation will be adopted in Uzbekistan.
From January 1, 2022, Uzbekistan will cancel the signing bonus charged for the right to carry out geological exploration activities, as well as the bonus for the commercial discovery of minerals. Temporary import of exploration equipment will be exempted from customs duties. Also, when importing geological exploration technologies that are not produced in the Republic of Uzbekistan, the importer will be completely exempt from customs payments.
The government will improve the taxation for the use of subsoil, taking into account the best foreign practices. Starting from January 1, 2022, in Uzbekistan, the tax rates for the use of subsoil resources for copper and gold will be reduced from 10 to 7 percent, and for tungsten from 10.4 to 2.7 percent.
According to the experts of the Forum, these measures will help bring the mining and metallurgical industry of the Republic of Uzbekistan to a new level and will increase the investment attractiveness of country.
The Forum has fostered international exploration cooperation and has also served as a global platform for government representatives, businesses and professionals to discuss and resolve important industry issues. During the Forum, Aurora Quest Services held a number of meetings and discussed the prospects of active and future exploration projects in the territory of the Republic of Uzbekistan.
The hosts of the Forum thanked Aurora Quest Services for participating in the event and expressed their desire for further fruitful cooperation.
Another important event was the opening of a new office of Aurora Quest Services in Tashkent city. The presence of the Aurora group of companies in Uzbekistan will contribute to the development of our geological exploration service in the country, as well as the establishment of close ties with representatives of local businesses. Aurora is always happy to welcome guests and partners at 22 Uzbekiston ovozi st, Tashkent city.
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