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Economy
22/01/2010
AGMK to realize US$98.7m project at Kalmakyr mine
AGMK to realize US$98.7m project at Kalmakyr mine
Tashkent, Uzbekistan (UzDaily.com) --
Almalyk Mining and Metallurgy Combine (AGMK) open joint stock company will invest US$98.7 million for realization of the project on reconstruction and expansion of Kalmakyr mine. Kalmakyr mine is the main resource base of the company.
Currently AGMK started initial stage of works on reconstruction of mine, which will be completed in the beginning of 2012. The project implementation will raise ore mining by 3.5 million a year.
AGMK plans to construct fourth trans-shipping line and reconstruct railroad. The company will also buy mine transport.
Fund for Reconstruction and Development of Uzbekistan allocated US$63 million and local commercial banks issued US$20 million loan to the project. AGMK will direct US$15.7 million to the project.
Kalmakyr mine is among ten largest copper mining enterprises of the world. The mine has been developed since 1954. Along with copper, Kalmakyr mine contains gold, silver, molybdenum, selenium, tellurium and rhenium.
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