AMMC Boosts Production by 20% in 2024 Despite 8% Export Decline
The Almalyk Mining and Metallurgical Combine (AMMC) has revealed its impressive results for the year 2024, announcing that it successfully achieved all of its targets, particularly in the areas of ore extraction and cathode copper production.
In a statement released by AMMC, it was disclosed that the total value of goods produced by the company in 2024 amounted to a staggering 38.14 trillion UZS. This figure surpassed the “forecast indicator” by 16.1% and showed a significant increase of 20.5% compared to the previous year’s production volume of 31.66 trillion UZS.
AMMC exceeded targets and forecasts for various key areas including ore extraction, copper raw material processing, cathode copper production, copper content in concentrate, polymetallic ore extraction and processing, and zinc content in zinc concentrate. Although specific production volumes were not provided, it is clear that the company had a successful year in terms of production output.
The company’s export performance was also noteworthy, with products worth $610.8 million being shipped to overseas markets in 2024. By mid-November, AMMC had already met and surpassed its export forecast of $550 million by 11.1%. However, it is important to note that the overall export figures were lower than in previous years, with exports totaling $947.5 million in 2022 and $661.9 million in 2023.
In terms of product types, AMMC shipped 51.69 thousand tons of copper products (132.6% of the forecast), 15.18 thousand tons of lead concentrate (+21.5%), and 760 tons of molybdenum products (+9.3%). The company also successfully exported rhenium, cadmium, copper sulfate, and palladium powder, meeting its targets in these areas as well.
AMMC currently exports its products to 19 countries, with copper, zinc, molybdenum, rhenium, lead concentrate, cadmium, and palladium powder being its main exports. In 2024, the company expanded into new markets, including Guinea, Senegal, Serbia, South Africa, Morocco, and Portugal.
The Tax Committee reported that AMMC contributed significantly to the state budget by paying taxes amounting to 10.79 trillion UZS in 2024, slightly more than the previous year. This highlights the company’s commitment to fulfilling its financial obligations and contributing to the overall economic growth of the country.
