Luxembourg-based IFG Metals& Mining, part of Central Asian-focusedinvestment group IFG Capital Partners,has become the first private fund to investin Uzbekistan, through a concessionto explore and exploit seven tungstendeposits in the east European country, IFGmanaging partner Olga Ponkratova toldS&P Global Platts at the Mines and Moneyconference in London.This is the largest foreign investmentin the East European country’s miningindustry since the end of the Soviet Union,with investments to total $300 million overthe expected 25-30 year total working lifeof the Ingichke, Gussay, Sarykul, Kara-Tyub,Lyangar, Yakhton and Koytash deposits,subject to the conclusion of successfulfeasibility studies, Ponkratova said. It is alsoIFG’s first foray into metals.
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