(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, August 21. The online auction for the geological exploration rights to the Pirali gold-bearing site in Uzbekistan's Navoi region wrapped up on August 21 on the E-auksion platform, Trend reports, citing the platform.

The auction, which spanned almost a full day, witnessed a total of 461 submissions before NBK 111 clinched victory with a bid of $7.93 million-an astonishing 24-fold increase over the initial valuation. The Pirali site encompasses an extensive area of 484 hectares within the Navbahor district, strategically positioned 20.5 kilometers to the northwest of Zafarabad village and 38.5 kilometers to the north of Navoi city. Initial projections indicate that the quantifiable stockpile of gold reserves is approximately 2.4 metric tons.

NBK 111, duly registered in Tashkent as of May 2024, is engaged in the specialized extraction of non-ferrous metal ores, leveraging advanced methodologies and industry best practices to optimize resource recovery and enhance operational efficiency. The enterprise's sanctioned equity stands at $80.6 million. Zhang Qian, a national of the People's Republic of China, possesses a 40 percent equity stake in the enterprise, whereas Nurmahammad Pulatov retains the residual 60 percent ownership interest. Pulatov possesses a commanding 90.7 percent stake in Quwwatt Group, a prominent entity in the glass manufacturing sector located in Jizzakh, alongside a complete ownership of 100 percent in the electrical appliance production firm BEEK Electro.

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