RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of May 26, 2020 No. PP-4731

About additional measures for expansion of production of non-ferrous and precious metals based on fields of JSC Almalyksky MMC

For the purpose of development of the single concept of further implementation of investment projects of JSC Almalyksky MMC, sustainable development of the industrial and export potential, expansion of source of raw materials, attraction of advanced technologies in development of fields and conversion of mineral raw material resources:

1. Take into consideration that according to:

the resolution of the President of the Republic of Uzbekistan of March 1, 2017 No. PP-2807 "About measures for expansion of production capacities of JSC Almalyksky MMC based on the Yoshlik I field begins implementation of the investment project "Development of the Yoshlik-I field on production of 23 million tons of ore by 2027 with total estimated amount of capital investments 1, in 7 billion US dollars.

2. Approve the offer of the Ministry of Finance, Ministry of Economic Development and reducing poverty, the State committee of the Republic of Uzbekistan on geology and mineral resources, JSC Almalyksky MMC about realization of I-stage of expansion of production of non-ferrous and precious metals based on fields of JSC Almalyksky MMC (further - the Project) providing implementation:

in 2020 - 2024 first priority of exploration and mountain and capital works with pit construction, and also designing, supply of equipment and construction of facilities of copper and enrichment factory No. 3 capacity of annual production and conversion of 60 million tons of ore, and also infrastructure facilities;

in 2021 - 2025 second priority of designing, delivery and construction of facilities of metallurgical complex with bringing amount of annual production to 290 thousand tons of the cathode copper, 38 tons of gold and 203 tons of silver.

3. Determine the following sources of financing of the Project:

own means of JSC Almalyksky MMC in the amount of 250 million US dollars, including in 2020 - 35 million US dollars;

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