Moody’s Ratings has assigned the Almalyk Mining and Metallurgical Complex (AGMK) a long-term corporate family rating of Ba2 for the first time. The agency also assigned the company a Ba2-PD probability of default rating and a ba3 baseline credit assessment. The rating outlook is stable. In assessing AGMK, Moody’s applied its methodology for government-related issuers.…
A new gold-processing plant, “Kauldy,” has been commissioned in Almalyk at the Almalyk Mining and Metallurgical Complex (AGMK), aimed at expanding the company’s production capacity and increasing the processing of gold-bearing raw materials. The project was implemented using the company’s internal resources. According to reports, all technological equipment and construction works were carried out using…
The Almalyk Mining and Metallurgical Complex (AGMK) has received The Copper Mark and The Molybdenum Mark certifications issued by the Copper Mark organization, confirming compliance with international standards for responsible production of copper and molybdenum. The certification confirms that the company’s operations meet established requirements in environmental, social, and production responsibility. AGMK has become the…
International rating agency Sustainable Fitch has affirmed the sustainability rating (Entity Rating) of Almalyk Mining and Metallurgical Complex JSC at level “3” while raising the company’s overall entity score from 56 to 59 points. The rating decision reflects the company’s systematic efforts to improve its sustainable development strategy, as well as progress achieved in environmental,…
The Almalyk Mining and Metallurgical Complex (AGMK) has denied reports of possible violations in the conclusion of foreign contracts totaling over $200 million, allegations previously raised by the international investigative journalism network OCCRP. The OCCRP report suggested that some tenders might have been awarded to foreign companies exhibiting characteristics of “shell firms” registered in the…
Sustainable Fitch has assigned JSC Almalyk Mining and Metallurgical Complex (AGMK) an ESG Entity Rating of 3 and an entity score of 56. This reflects the company’s sustainable development strategy and good governance and environmental profiles, balanced against the inherent environmental challenges of the mining and metallurgical sector. The assessment includes the company’s eligibility and…
On October 15, President Shavkat Mirziyoyev got acquainted with the activities of the Almalyk Mining and Metallurgical Complex and new investment projects. Economic reforms are yielding results in all sectors. Over the past six years, the volume of industrial output at the Almalyk plant has increased 1.8-fold, localization 7.7-fold and investments 13-fold. More than 70…
Almalyk Mining and Metallurgical Complex intends to mine up to 74 million tons of copper ore per year at the Yoshlik I deposit. The development of the deposit, situated next to the Kalmakir deposit, started in 2017. Art present the company employs 1330 people and 54 quarry dump trucks there. The first copper ore will…