At a meeting of the Cabinet of Ministers, Chairman of the state Corporation "Turkmengeologiya" Shahym Abdrakhmanov reported on the results of geological and exploration work to determine the reserves of local raw materials for the construction of a metallurgical plant, conducted jointly with the Ministry of industry and construction production, the state news Agency of Turkmenistan reports.

According to him, the Corporation's specialists have studied the material and chemical composition, Mineralogy of iron ore, as well as the latitude and depth limits of the Gyzylkaya etrap Deposit of Turkmenbashi in the Balkan velayat. As a result of the inspection, it was found that the depth of the reserves is at the level of 120-160 meters, and the chemical composition of iron oxide is on average 20 percent.

In continuation of the topic, Minister of industry and construction Serdar Berdimuhamedov presented a proposal for cooperation with the Russian Research Institute "FSUE "Central research Institute of ferrous metallurgy. I. P. Bardina" for the purpose of conducting technological tests of iron ore from the Gyzylkaya Deposit to determine its suitability for metallurgical production.

The President of Turkmenistan noted the need to intensify geological exploration in order to identify promising mineral deposits, taking into account the priority of development of the industrial sector. Approving the submitted proposals, the head of state stressed the special importance attached to the expansion of Turkmen-Russian relations, supported by the rich experience of many years of successful partnership, which will continue to be built on a mutually beneficial basis, taking into account the national interests and key priorities of the socio-economic development of Turkmenistan and Russia.