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Uzbekistan’s mining and metallurgical complex eyes increasing its authorized capital

Uzbekistan Materials 22 January 2021 13:55
Uzbekistan’s mining and metallurgical complex eyes increasing its authorized capital

BAKU, Azerbaijan, Jan. 22

By Klavdiya Romakayeva - Trend:

The Almalyk Mining and Metallurgical complex (Almalyk MMC) plans to increase its authorized capital from 643.4 billion soums ($61 million) to 1.6 trillion soums ($152 million), Trend reports referring to a single portal of corporate information in Uzbekistan.

According to the portal, the Almalyk MMC plans to increase its authorized capital through the issued and placed additional shares totaling more than 1.37 trillion ($130 million) due to an increase in the state's share.

It is also reported that the Almalyk MMC will issue 265,094,270 ordinary shares at a cost of 3,914 soums ($0.37) each.

Almalyk MMC JSC for the extraction and processing of precious and non-ferrous metal ores is an industrial complex that includes six mines, five concentrating complexes, three metallurgical plants, the Angren Pipe Plant mainly focused on the export of copper pipes, as well as the Jizzakh and Sherabad cement plants, the Department of Industrial Railway Transport, which includes three railway workshops, the Department of Road Transport, which has eight motor depots, as well as about 40 auxiliary workshops, departments and services.

In addition, Almalyk MMC JSC in cooperation with such joint ventures as KNOW-HOW IN PRODUCTION PROCESS, AWP LLC, and HPC SYSTEMS LLC produces copper sulfate, sanitary ware, fittings and cable products for export.

The gold and silver produced at the plant has the Good Supplier quality mark for the London Stock Exchange. In the process of copper production, a quality system management was introduced and an international certificate of conformity was obtained. This certificate of conformity has also been issued to the production process at the Jizzakh Cement Plant.

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Follow the author on Twitter: @romakayeva

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