Oxus Gold (UK) has run into difficulties surrounding its gold mining operations in the central Kyzylkum area. Oxus owns 50% of Amantaytau Goldfields (AGF), as part of a joint venture with two state-owned Uzbek partners. In February Oxus announced that it had agreed in principle to sell its 50% stake to its partners, but a month later claimed that the Uzbek auditors assessing the stake's value were not acting in good faith. It also expressed concern that the auditing team was trying to find a reason to put AGF into liquidation, thereby enabling the Uzbek state to expropriate Oxus's assets. Oxus reports that it has had no response to its appeal to reach an amicable agreement on the asset's value, and is considering international arbitration. Shavkat Tulyaganov, the deputy minister of trade and foreign economic relations, has claimed the Oxus had not paid its taxes, although he cited no evidence. Oxus rejected the accusation.

The authorities' actions seem to be an attempt to push Oxus out of the country or to gain its stake for a knock-down price. Several years earlier Oxus had difficulties with its investments in the neighbouring Kyrgyz Republic, eventually pulling out of the country after disputes with its state partners. The actions of the auditors and Mr Tulyaganov's claims about non-payment of tax appear to be part of a campaign to forcibly nationalise the company's stake in AGF. The other half of AGF is held by the State Committee on Geology and Mineral Resources (40%) and the state-owned Navoi Mining and Metallurgical Combinat (NMMC; 10%). The deposit is estimated to hold 2.84m oz of gold and 6.74m oz of silver.