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Article: Uzbekistan : Oxus Gold to speed up Uzbek project.
- Article from:
- TendersInfo
- Article date:
- January 24, 2009
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Byline: prashant03
Central Asia-focused gold miner Oxus Gold (OXS.L), which is in funding talks with its bankers, said it will expand its underground sulphide project in Uzbekistan faster than planned while slashing development costs.
Oxus said that, under revised plans for its 50 percent-owned Amantaytau Goldfields project, it expects to raise annual production at the site to 160,000 ounces of gold by 2010.
Output will comprise 60,000 ounces from the first, open-pit stage of the project and 100,000 from the second, underground phase.
Financing for the second underground phase will be scaled back under plans that "envisage (its) ...