The Russian state corporation VEB.RF will provide $800 million to Almalyk Mining and Processing Works for construction of the copper-processing factory.
Earlier, the enterprise concluded a contract with UZTM-Kartex (Uralmashzavod) and Enter Engineering for $2 billion for the financing of the construction and delivery of machinery in 2022. Enter Engineering will build the factory, while Uralmashzavod will supply machinery.
Almalyk accounts for 90% of silver and 20% of gold output in Uzbekistan. (Ukrainian metal)