In the first five months of 2024, Almalyk Mining and Metallurgical Combine (AMMC) reported a decrease in exports, amounting to 21.5% less than the same period last year, reaching $232.5 mn. Despite this decline, the company met its production and export targets, achieving 107% of the forecasted export value.
Export Figures and Market Performance
From January to May 2024, AMMC exported a total of $232.5 mn worth of products. The export volumes included:
- Copper Products: 20,069 tons, a decrease of 19.8%.
- Zinc Products: 11,211 tons, a decrease of 20.6%.
- Molybdenum Products: 310 tons.
- Lead Concentrate: 8,386 tons.
AGMK's products reached over 20 countries worldwide, with the export geography expanding each year. In 2023, the company entered new markets, such as the United States, Mexico, and Finland, specifically for copper rod and copper sulfate.
AMMC has been focusing on producing high-value-added products from raw materials. The rapid development of production capabilities in this direction has led to an increasing domestic demand for copper, which has become a priority for AMMC.
AMMC exported goods valued at $177.7 mn in the first quarter of 2024. This amount reflects a 26.9% decline from the same period in 2023. Between January and April 2024, AMMC shipped 15,600 tonnes of copper products and 9,300 tonnes of zinc.
AMMC, one of Uzbekistan's largest industrial enterprises, has majorly contributed to the country's economic development over its 70-year history. Its production capacity focuses on copper-molybdenum, lead-zinc, gold, and silver mining, with operations located in the Tashkent, Jizzakh, Namangan, and Surkhandarya regions.
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