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Work results of JSC «Almalyk MMC» for 2016

Fulfilling the most important priorities of the social-economic development program, collective of JSC “Almalik MMC” for 2015 provided salable production:

 - in current prices  –   103,9 %,

- in comparable prices –   103,2 %.

Rate of salable production growth in comparable prices to corresponding period of 2015 amounted to 104,0 %.

Copper ore obtained by 101,4 % against assignment, raw copper is processed by 101,9 %, including from own raw material 100,0 %, metal zinc from own raw material 115,8 %,  112,8 %, fine gold 100,5 % and fine silver100,3 %.

Copper raw material is processed by 100,3 % against assignment, rate of growth is 101,1 %.

 According to program of exploration work, for 2016, fulfillment of main physical quantities amounted to: underground mining workings –  106,7 % against plan (rate of growth is 104,8 %), drilling works –   102,0 % (rate of growth is 114,5%), ditching –  100,6 %, acclimated – 33,2 bln. sum.

According to the Decree of the President of the Republic of Uzbekistan dated 10.08.2016 No.ПП-2573 “About establishment of research and manufacturing association for production of rear metals and hard alloys”, to provide processing chain from rear metal mining to their advanced processing and production of pure rear metals and hard alloys, within the JSC “Almalik MMC” research and manufacturing association (RMA) has been establish by means of JSC “UzKTZHM” incorporation.

For 2016 export forecast was fulfilled by 108,0 %, including RMA production – molybdenum as sintered briquettes and  molybdenum trioxide.

Through exchange auction GSC “Uz RTCB” for 2016 copper products were sold – 103,4 % against balance, metal zinc –100 % against balance, Portland cement  - 113,6 % .

With purpose to saturate local market, concern manufactured large scale goods for the amounts of 11,0 bln. sum (w/o VAT) or 103,9 % against assignment, rate of growth amounted to 102,1 %.

According to the Decree of the President of the Republic of Uzbekistan dated 25.12.2015 No.ПП-2458, JSC “Almalik MMC” was implementing 11 own projects and 3 projects of RMA with capital investments in the amounts of – 296,2 bln. sum.

For 2016 год acclimated 306,3 bln. sum or 103,4 % against forecast.

 Financial means are acclimated as follows:

 (mln. sum)

No. Description Plan Fact Fulfillment, %
1 Construction of new melting furnace at copper plant 50908,7 51202,1 100,6
2 Construction of underground mine  on “Samarchuk” site on base of acting ”Kyzyl-Alma” deposit 8914,7 9978,4 111,9
Implication in mining of  out-of-balance farewell ores of “Kalmakir” deposit 154278,3 158175,5 102,5
Construction of cement plant in Sherabad district of Surhandarya region 461,6  796,1   172,5
Organization of copper wire production in Tashkent region  7789,5 7821,3   100,4
 6   Extension  of cement plant in Dzhizak region 27996,0 29938,7 106,9
7 Organization of galvanized metal sheet and shaped decking (СИЗ “Angren”)  57,7 111,1  192,6
8

RMA projects:

     Technical retooling and modernization of  central concern boiler plant;

     Technical retooling and modernization of compressor station for compressed air production;

Technical retooling and modernization hydrometallurgical section for production of molybdenum salts from molybdenum concentrate.

2596,5  2900,4  111,7
9 Organization of Организация sticked explosives  3938,0 3993,6  101,4 
10 Reconstruction of  “54 ПВС” substation 7492,3  7810,2  104,2 
11 Reconstruction of copper and gold bearing concentrate filtration and drying  section in Tashkent region 8655,0    10269,8   118,7
12 Acquisition of equipment instead of worn one 23080,0 23262,2 100,8
  ВСЕГО 296168,3 306259,6 103,4

According to the Decree of the President of the Republic of Uzbekistan dated 11.02.2015 No. ПП-2298 “About final products, components and materials production localization for 2015 – 2019”, JSC “Almalik MMC” implements 30 JSC “Almalik MMC” projects and 6 RMA projects for the total amounts of 77,6 bln. sum. For 2016 localized products were manufactured for the amounts of 93,1 bln. Sum or 119,9 % against forecast.

At International Industrial Fair and cooperative exchange 155 contracts for supply of spare pats and completion materials for the total amounts of 184,5 bln. sum.

For 2016 spare pats and completion materials were purchased for 185,5 bln. sum or 100,5% against forecast. Commodity stocks and supplies were purchased by import for the amounts of 79,2 mln. USD.

According to the Decree of the President of the Republic of Uzbekistan dated 3.07.2014 No.ПП-2200 JSC “Almalik MMC” is not included in the program of state property privatization.

In accordance with Provision of the Cabinet of Ministers of the Republic of Uzbekistan dated 29.12.2015 No.374 “About additional measures on production cost reduction, production prime cost decrease in industry”, concern has developed complex of organizational-technical measures concerning production cost reduction for 2016 providing  production prime cost decrease by 213,0 bln. sum or 10,1 %.

concerning production cost reduction for 2015 providing  production prime cost decrease by 7,2%.

Expected result from measures concerning production cost reduction fulfillment, for 2016 amounted to 253,6 bln. sum or 12,0 % against 10,1 % to assignment, including prime cost – 224,2 bln. sum or 10,6  %  against planned 8,7 %.

Concern has developed measures on management improvement, financial-economic state strengthening and monitoring of receivables and payables reduction.

Expected payables as of 01.01.2017 amounts to 107,5 bln. sum without overdue repayment of debts, bills payable – 166,5 bln. sum.

There is no tax liabilities and salary liabilities.

Concern worked out and approved measures for 2016, due to which fuel-energy resources saving is expected amounted:

- load reduction during hours of maximum – 52 МW;

- electric energy consumption – 175,8 mln. кW/hr;

- fuel – 41,8 mln. m3;

- thermal energy – 14,6 th. Gcal.

TPP saving amounted to total sum of 42,8 bln. sum.

With purpose to improve system of corporate management in accordance with the Decree of the President of the Republic of Uzbekistan in 2016 JSC “Almalik MMC” has undertaken:

seminars for top officers concerning corporate management in joint-stock companies with participation of professionals in corporate management and financial management were organized;

top officers of JSC “Almalik MMC” passed educational courses (training) in the concern organized by center of corporate management in Tashkent;

in September 2016 1 specialist improved his knowledge regarding modern methods and principles of corporate management and marketing;

to improve concern openness and transparency as well as study of international standards of financial accounting and reporting peculiarities, National association of accountants and auditors jointly with Chamber of Auditors of Uzbekistan organized seminar on a topic “International standards of financial accounting and reporting and international standards of audit”, in which near 40 specialists of JSC “Almalik MMC” structural subdivisions improved their knowledge and skills in this area.

Position of leading specialist as consultant in corporate relations was introduced in central office.

In accordance with established in ther first quarter special working group concerning preparation and introduction of the Code of corporate management, internal corporate documents (in new edition) were worked out, which under coordination with Supervisory Board were approved at the annual General meeting of JSC “Almalik MMC” stakeholders.

In accordance with work plan, JSC “Almalik MMC” executive body in mass-media (Single portal of corporate information, official site of “Toshkent” stock exchange and JSC “Almalik MMC”) massage was placed about since July 1, 2016 undertakings with regard to the Code of corporate management observance in accordance with requirements approved by minutes of Commission on improvement of joint-stock companies effectiveness and improvement of corporate management system.

New internal corporate documents arising from the Code of corporate management recommendations upon adoption by the JSC “Almalik MMC” Supervisory Board will be approved at extraordinary General meeting of JSC “Almalik MMC” stakeholders. In particular:

  • Voting order on behalf of JSC Almalik MMC” representatives in enterprise managerial bodies, in statutory funds, in which JSC “Almalik MMC” has a share;
  • Provision on requirements to managerial and control bodies reporting;
  • Procedure of competitive selection of independent organization for assessment of corporate management system.

Head of internal audit service and chief accountant of JSC Almalik MMC” took part in seminar organized by Scientific-educational center of corporate management and firm “Deloit” on topical question regarding transition to international standards of financial reporting in joint-stock companies.

Pursuant the Decree of the President of the Republic of Uzbekistan No.ПП-2635 dated 17.10.2016 “About measures on further improvement of corporate management in joint-stock companies with prevailing share of state”, Chairman of the Board - Председатель правления – Executive Director of JSC ”Almalik MMC” and all his deputies improved their knowledge and skills at educational courses on a topic: “Introduction of corporate management methods in established joint-stock companies organized by Scientific-educational center in Tashkent.

Simultaneously, one specialist of central office passed educational courses on modern methods of business management and corporate management for managerial personnel, passed practical trainee job at leading companies of Germany introducing modern methods of corporate management organized by the European school of management and technologies (Germany).

Corporate documents and proposals have been prepared concerning establishing Committees (working groups on topical directions) at company Supervising Council.

On the basis of Provision of the cabinet of Ministers of the Republic of Uzbekistan dated 28.07.2015 No.207 “About introduction of criteria for joint-stock companies and other undertakings with state share activity effectiveness assessment” in accordance with Provision “About application of key effectiveness indicators of JSC ”Almalik MMC”,  JSC ”Almalik MMC”  activity effectiveness assessment has made. By results of III quarter of 2016, average weighted value of all key indicators of effectiveness (KIE) as effectiveness integral coefficient (EIC) of JSC ”Almalik MMC”  executive body exceeded 100 %. Pursuant above provision of the Cabinet of Ministries of the Republic of Uzbekistan, executive body activity effectiveness is recognized high if KIE value exceeds 100 present.

Results are placed on official site of the Center of state assets management at the State Committee on Competition of the Republic of Uzbekistan.

Pursuant Program In accordance with program of new work places creation for 2016 is planned to create 274 new work places including due to branch development
151, on investment program 101 work places and on localization -
22 work places.

For 2016 294 new work places are established or 107,3 % against forecast including on branch development 153 (101,3 %), on investment program 119 (117,8 %) and on localization 22 (100 %).

According to program of working personnel vocational training 3552 people were trained, technical and engineering employees 1913 people including with production interruption – 544 people.

137 people were studied on paid-contract base. Expenses for contract payment amounted to. 1,1 bln. sum.

JSC “Almalik MMC” has fulfilled complex of measures regarding cooperation with seven professional colleges, reserved to concern, strengthening of cooperative links regarding organization of alumni’ practical training. Concern structural subdivisions assisted in academic workshops and laboratories furnishing.

Concern specialists carried out lectures and seminars for students, teachers of special disciplines and masters of vocational training.

For 2016 in concern subdivisions 3276 students of colleges reserved to concern passed practical training and 595 students of higher education institutions.

For 2016 1810 college alumni were employed including 1111 graduated from secondary special professional institutions reserved to concern and 461 alumni of higher education institutions.

Pursuant Decree of the President of the Republic of Uzbekistan dated 22.12.2016 No.ПП-2692 “ About additional measures on accelerated update of physically worn and morally aged equipment  as well as reduction of production cost in industry”, JSC Almalik MMC” carried out inspection of 12834 units of processing equipment, from which  subject to 928update or replacement.

JSC “Almalik MMC” fulfilled measures on widening use of alternate energy sources. In III quarter of 2016 solar installations were introduced in administrative and amenity building No.1 and photoelectric station with capacity 40 кW in locomotive depot of railway transport department. Biogas installation is introduced in управлении производства consumer goods in I quarter of 2016.

JSC “Almalik MMC” fulfilled measures on the state program “Year of healthy mother an d child”, including measures on material aid, acquisition of educational  accessories for children from  needy families, children-orphans, organization of free treatment ad sanatoriums-preventoriums, allotment of free permits to children recreation camps, maintenance of playground in mahallyas, etc.   In 2016 expenses for above measures amounted to 933,6 mln. sum against planned 778,6 mln. sum  (120 %).

With purpose to satisfy needs of the concern employees and city market saturation with beet an diary and agricultural products, in 2016 has been manufactured:

Agricultural products (onion, potato, tomato and cucumber) – 2715,6 t;

fruits – 117,4 t;

meat products – 98,7 t;

including fish – 40,1 t;

milk products – 1995,8 t.

During entire period work on introduction of reporting and document execution supervision system was carried out, study of law observance, decrees of the President of the Republic of Uzbekistan and Government decisions on the ground, minutes and analytical notes were executed.

Work concerning critical analysis of own resolutions implementation, shortcomings finding and development of specific measures on their elimination is carried out.

At the concern letters of complaint and applications from employers are considered. In  2016 752 applications including 454 written and 298 oral were received. On 50 applications measures were taken, 684 – explained, 18 applications are not considered.

Application nature – material aid, employment, treatment and housing and public utilities matters, etc .

For improvement of effective reaction on legal and physical persons appeal, system of work with written, oral and electronic appeals of citizens:

Virtual reception of JSC “Almalik MMC” Executive Director is established;

From December 1, 2016 additional position of inspector within office manager service of JSC “Almalik MMC” central office was introduced.

For farther improvement of above works following measures are scheduled:

Improvement of appeals registration and processing system with purpose to reduce terms of consideration and execution control;

Organization of monthly meetings of deputies elected by citizens from concern employees..

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