INFORMATION NOTE

on the construction of the “Yoshlik I” open-pit mine and the establishment of its production infrastructure within the framework of the investment project “Development of the Yoshlik I Deposit” — Stage I, Phase 1

07/01/2026 

Basis: Resolution No. PQ-4731 of the President of the Republic of Uzbekistan dated May 26, 2020 “On Additional Measures to Expand the Production of Non-Ferrous and Precious Metals on the Basis of the Mines of JSC ‘Almalyk MMC’.”

Project capacity: 917 thousand tons of copper concentrate and 2.5 thousand tons of molybdenum concentrate per year.

Project cost: USD 4,620.4 million.

Source of financing: Own funds, foreign direct investment funds.

Location: Tashkent Region, Almalyk City, JSC “Almalyk MMC”.

Raw material base: Products obtained from copper-molybdenum concentrate produced through the processing of ores from the Kalmakyr and Yoshlik-1 deposits: copper cathode, gold and silver.

Jobs to be created: 5,647 jobs.

Electricity consumption: 568.7 million kWh per year.
Gas consumption volume: 3.3 million m³ per year.

Marketable products: 3,594.5 billion soums per year.

Export indicators: USD 241.6 million per year.

Project implementation period: 2017–2026.

Purpose of the project: To produce 60 million tons of copper-molybdenum ore per year.

Name of the general contractor: Enter Engineering Pte. Ltd. — Singapore.

Amount utilized as of July 1, 2026: USD 4,568.1 million.

Construction of the open-pit mine at the “Yoshlik I” deposit and establishment of its production infrastructure.

Since the start of the project for the construction of the open-pit mine:

More than 255.4 million m³ of overburden stripping works have been carried out, including more than 14.3 million m³ since the beginning of the year. The works have been organized in 2 shifts, with 1,800 employees and more than 400 units of machinery and equipment engaged under the project. In addition, 45.6 km of railway tracks have been laid.

More than 609 units of mining equipment worth USD 503.2 million have been purchased, including 54 BelAZ dump trucks with a capacity of 130 tons, 29 BelAZ dump trucks with a capacity of 220 tons, 5 NMT-240 TEREX-KRANTAS dump trucks with a capacity of 220 tons, 7 HITACHI dump trucks with a capacity of 220 tons, 33 excavators, 23 drilling rigs, and 12 mixing and charging machines.

In addition, 254 units of railway equipment have been purchased, including 1 electric locomotive, 5 diesel locomotives, 212 dump cars, 7 units of track construction equipment, as well as 192 units of auxiliary equipment.

Cyclic-flow technology (“TSPT – Poroda-2”)

More than 5.9 million m³ of earthworks have been carried out, which is 80.8% of the plan, for the construction of the Cyclic Flow Technology (“TSPT-Poroda”) designed to transport more than 20 million m³ of waste rock per year.

On June 24, 2024, based on the results of the official tender held for the construction of the Cyclic Flow Technology (“TSPT Poroda-2”) under ERS terms, TMX Consulting Ltd was declared the winner of the tender with a commercial proposal worth USD 122.2 million, including VAT.

Contract No. 69-8226 dated November 6, 2024 was signed. The initial advance payments have been made in full. The main technical solutions have been agreed upon, and design works are currently underway.

Mining industrial sites:

- The project documentation for the construction of the TK-1 and TK-2 industrial sites of the “Yoshlik I” and “Kalmakyr” deposits has been submitted by the general designer.

- The earthworks at the “Yoshlik I” industrial site have been fully completed. The perimeter fence wall has been completed by 100%.

The foundation sections of the buildings have been completed by 95%. At the “TMTS Warehouse”, installation of trusses, struts and purlins, as well as additional bracing, has been completed, and installation of the framework girders is continuing. At the “KGSh Warehouse”, installation of columns, struts, bracing and trusses has been completed, and struts are currently being fabricated. At the “Canopy with an Inspection Pit”, trusses have been installed, and bracing, purlins and struts have been fabricated and installed. At present, fabrication and installation of additional connections are continuing. At the “RMM” and the “Welding and Cutting Station”, installation of the building’s metal columns and the metal elements connecting them to each other — bracing and struts — has been completed. The trusses have been fabricated and installed. At present, fabrication and installation of struts are continuing. The works for covering the roof and wall sections of the administrative building with sandwich panels have been completed by 100%. At present, installation of partition walls under the new design, installation of metal siding on the ceiling section, as well as electrical installation and sewerage works are continuing. In accordance with the new design, construction of an 80-seat canteen has begun. At present, excavation pit and foundation works are being carried out.

The perimeter fence wall of the “Kalmakyr” industrial site has been completed by 100%.

At the site, excavation pits and trenches for buildings and structures have been dug by 80%, and foundation works at the “Canopy with an Inspection Pit” facility have been completed. At the “Treatment Facilities” and “Washing Station” facilities, works on tying reinforcement for the foundation are continuing.

The project documentation for the construction of the GSHO industrial site has been submitted by the general designer, and the construction of buildings and structures has been completed by 98%.

The project documentation for TP-8 and TP-9 substations, which will supply electricity to the equipment of the cyclic-flow technology for transporting ore and waste rock, was prepared by the contractor — the joint venture “O‘zelektroapparat-Electroshield.” The construction works will be completed and the facilities will be commissioned by the contractor in 2025.

As part of the construction of TP-8, vertical site preparation works have been completed and the relevant acceptance certificates have been submitted.

Two 80 MVA transformers have been installed. Construction and installation works have been completed by 100%. Pre-commissioning works are underway, and measures are being taken to put the facility into operation.

As part of the construction of TP-9, vertical site preparation works have been completed and the relevant acceptance certificates have been submitted.

Two 63 MVA transformers have been installed. Construction and installation works have been completed by 100%.

Construction works have been completed by 100%. Pre-commissioning works are underway. The facility is planned to be commissioned in the current year.

2. Construction of a 650 MW external power supply facility

The construction of the 10 km 500 kV power transmission line for the power supply facilities was completed by 100% by the joint venture “O‘zelektroapparat-Electroshield.”

In addition, at the 500 kV digital substation, construction and installation works, as well as the delivery of the main equipment, were completed by 100%. Construction works at the facility were completed in December 2023, and the facility has now been commissioned.

3. Reconstruction of the Explosive Materials Plant and the Explosive Materials Storage Facility:

Main production technological equipment:

A total of 13 tanks have been installed, the technological modules have been completed by 100%, the cooling system has been fully commissioned, and compressors and steam generators have been installed. The construction of buildings and structures has been completed, and equipment adjustment and testing works are currently underway.

Auxiliary equipment and facilities:

External power supply, transformers, the warehouse for auxiliary materials, and distribution warehouses have been completed by 100%. In addition, the construction of external and internal water supply systems and additional railway crossings has been completed. Equipment for the treatment of process water has been purchased, and installation works have been completed. The facilities of the fuel distribution depot have been installed, and adjustment works have been completed. At present, the construction of the parking area and car wash facility is progressing rapidly.

The project is planned to be fully commissioned by the end of 2026.

Temporary motor roads and railways

Construction of external utilities and temporary railway tracks is underway.

This year, the MPCS — microprocessor-based centralization of signals and switches — and the EACS — electronic axle counting system — of the “Kalmakyr” and “Halqasimon” stations and the interstation section between them, as well as the “Qo‘rg‘oshin” station, “Otval” station and “Fabrika” station, will be commissioned.

Works to be carried out

Construction works will be carried out for the “Yoshlik I” open-pit mine, the Explosive Materials Plant, ASU GTK, TP-9, 8.2 km of internal motor roads, the microprocessor-based centralization system and electronic axle counting system of 4 railway stations, the sample cutting and analysis laboratory, and the Cyclic Flow Technology (“TSPT-Poroda”) for transporting waste rock.