According to Uzbekugol, the company will purchase 3.217 million ordinary shares of Shargunkomir. The deal sum was not revealed.

In line with the announcement, this will make 15% of charter capital of Shargunkomir.

The Government owns 51% of shares and labour collective holds 7.43%. Uzbekugol possesses 41.57% stake in Shargunkomir.

Earlier the shareholders adopted decision to increase charter capital up to 7 billion soums due to additional shares’ floatation. Within the emission, the company plans to issue 6.5 million ordinary shares with par value of 1,000 soums each.

Shargunkomir OJSC develops Shargun and Baisun coal mines and process them at Shargun briquette plant and Baisun briquette plant.

Total explored reserves of Shargun and Baisun coal mines makes up about 45.8 million tonnes of coal.

Uzbekistan has proved coal reserves for 1.9 billion soums, of which 1.853 million tonnes are brown coal and 47 million tonnes – coal. Forecasted coal reserves make up 5.7 billion tonnes. Large volume of coals is located in southern regions – Surkhandarya and Kashkadarya regions. Currently, three deposits – Angren brown coal mine, Shargun and Baisun coal mines are developed in Uzbekistan.