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A visit to Almalyk was an important event of the last week

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A visit to Almalyk was an important event of the last week

As previously reported, on 29 July, Shavkat Mirziyoyev visited the Yoshlik-1 deposit of Almalyk Mining and Metallurgical Complex.

The enterprise is implementing a mega-project worth almost $5 billion.

Presidential Press Secretary Sherzod Asadov informed about the results of this visit.

– 65 million tons of ore per year is mined from the Yoshlik-1 deposit. A copper-processing plant will be built here, processing 60 million tons of copper-molybdenum ore per year. A lime plant with a capacity of 360 thousand tons, an electric grid with a capacity of 650 MW and other infrastructure facilities will also be built.

The Head of the state got acquainted with the work on ore extraction at the deposit. Then the President laid the first stone in the foundation of the third copper-processing plant of Almalyk Mining and Metallurgical Complex.

The company has good prospects taking into account the growing demand for copper in the world market. This year alone, copper prices are up 25 percent. Copper demand is projected to rise by at least 40 percent by 2030. That is why experts believe that it will become the “oil” of the 21st century.

45 million tons of copper reserves and over 5 thousand tons of gold reserves have been discovered at the Yoshlik-1 deposit. These are $400 and 300 billion, respectively. And this is still only in the form of raw materials. However, the Head of the state demands to sell copper not in the form of raw materials, but in the form of processed finished products.

By 2028, the Almalyk plant will produce 400 thousand tons of copper, 50 tons of gold, 270 tons of silver per year after the launch of a copper-processing plant with a project cost of $2 billion. As a result, Uzbekistan will become one of the largest copper exporters.

UzA