The company developed feasibility study on modernization of gold production capacities for next five years to support capacities of the enterprise in good level and compensate exhausting ore base.

In particular, the modernization programme envisages intensification of mining works at Kyzylolma and Kochbulak mines, as well as construction of new underground mine Kayragach in Tashkent region with the capacity of 80,000 tonnes of ore a year. Total volume of investment to this part of programme makes up US$65 million in 2011-2015.

Within the modernization programme, it is also planned to carry out reconstruction of Angren gold mining plant with the cost of US$25 million. In particular, it is planned to install new flotion machines, construction of crushing-batching complex, etc.

In 2012, AGMK is planning to start construction works at mines. The construction period is three years.

The modernization programme will be financed due to own resources of AGMK and loans of the Uzbek banks.

Almalyk Mining and Metallurgical Combine is one of the largest producer of nonferrous metal in Central Asia and only copper producer of Uzbekistan. AGMK produces 90% of silver and 20% of gold in Uzbekistan. The company has two mining enterprises, two concentrating plants and two metallurgy plants.