SHANGHAI, Feb. 12 -- Almalyk Mining and Metallurgical Combine (AGMK) in Uzbekistan plans to invest USD 181.2 million to modernize its concentrating complex in 2009 and 2013. AGMK will use USD 163 million to restructure crushing ore reduction unit of copper concentrates, and USD 18.2 million to purchase new flotation unit. The project is financed by the Fund for Reconstruction and Development of Uzbekistan, loans of local banks, as well as own funds of the company. After completing reconstruction, the capacity of the concentrator will increase from existing 29.1 million mt to 35 million mt of ore processing a year.
AGMK is the only one producer of copper cathodes in Uzbekistan, with annual output of refined copper about 100 kt. In addition, AGMK also produce zinc and lead concentrate, and 90% of silver and 20% of gold in Uzbekistan also come from the company.
(Edited by SMM)