“SFI Management Group” to attract $180 million for the development of the AMMC in 2019 

Next year, a foreign company “SFI Management Group” plans to attract over $180 million investments for the development of the “Almalyk Mining and Metallurgical Combine” (AMMC), Kun.uz correspondent reports referring to the press service of the AMMC. 
  
Investments, including foreign ones, will be attracted on five projects. 
  
“Our largest initiative is the development of the deposit “Yoshlik 1”. According to predicted estimates, after its launch in 2027, up to 23 million tons of copper-molybdenum ore will be mined here annually,” representatives of the AMMC said.  
 
In addition to expanding production facilities for the extraction and processing of raw materials at the deposits “Kalmakir” and “Sary-Cheku”, it is planned to modernize the copper concentration factory, copper smelting and zinc plants.  
  
According to estimates of the AMMC’s press service, these projects are planned to be completed in 2021 and 2020, which will make it possible to bring stable mining of copper-molybdenum ore at the mines “Kalmakir” and “Sary-Cheku” to 40.3 million tons annually. In addition, it will allow for the reconstruction and updating of the main technological equipment of the specified divisions. 
 
"We will also continue the construction of an underground mine at the site “Samarchuk”. After commissioning it in 2021, up to 100,000 tons of gold-bearing ore will be mined here,” AMMC noted. 
  
Another project, representatives of the plant noted, is the construction of the underground mine “Mejdurechye”. It is at the stage of early implementation, the bulk of work on projects is planned for 2020-2023.  
 
The “Almalyk Mining and Metallurgical Combine” is the only copper producer in Uzbekistan. The company produces refined copper, zinc metal, molybdenum, lead concentrate and other products. 
 
About 90% of silver production and 20% of gold in the republic accounts for the share of AMMC. Since August 2018, the state share in the enterprise has been transferred into trusted management of a foreign company “SFI Management Group”.