Azernews.Az

By Nazrin Gadimova

Almalyk Mining and Metallurgical Complex (AMMC), the largest copper producer in Central Asia, will direct 39.4 percent of the total net income for 2012 to the development of the facility, the company said with reference to a decision of the annual general shareholders meeting.

According to the audited balance sheet approved by the meeting of the shareholders, the net profit of the plant increased by 6.5 percent compared to 2011 -- up to about 137.2 billion soms.

According to the decision of the shareholders, 19.8 percent of the total net income for 2012 was directed to repay the loans borrowed for the implementation of investment projects, while 16.8 percent - for sponsorship on behalf of the government. 8 percent was spent on geological surveys, 4.2 percent on the reserve fund of the enterprise, and the rest on other purposes.

The authorized capital of the Almalyk Mining and Metallurgical Complex JSC is worth 198.2 billion soms. 97.5 percent of the company's share capital is owned by the state.

The Almalyk plant is the only copper producer in Uzbekistan and one of the largest manufacturers of non-ferrous metals in Central Asia. The plant accounts for nearly 90 percent of silver production and 20 percent of gold production in the country. The plant comprises two mining companies, two processing plants and two metallurgy plants.

The plant has the rights to develop copper-molybdenum and lead-zinc ores in the area of Almalyk in Tashkent region. The Almalyk Plant's resource base includes copper-porphyry ores at the Kalmakyr and Sary Cheku fields in Tashkent region, the lead-zinc-barite ore deposit Uch-Kulach in Djizzak and the lead-zinc ore deposit Khandyza in Kashkadarya region.

The total production of the plant is estimated at more than $300 million a year.