From 27 July to 2 August 2026, independent members of the Supervisory Board of “Almalyk Mining and Metallurgical Complex” JSC (AMMC), Tanya Chikanza and Alexander Blumhardt, undertook a working visit to the Company.

The visit marked another important step in AMMC’s ongoing efforts to strengthen its corporate governance system, improve the effectiveness of its governing bodies and introduce leading international practices into the Company’s management system.

The programme included a series of working meetings, strategic sessions and discussions with the Company’s management. Key topics included the effective implementation of major investment projects, refining financial models, enhancing the effectiveness of the Supervisory Board, and advancing corporate governance in line with international ESG principles and global best practices.

Particular attention was given to strengthening the quality of strategic management. The discussions covered ways to improve cooperation between the Supervisory Board and executive management, enhance internal control and risk management systems, improve the quality of corporate reporting, and further strengthen the transparency and accountability of management decisions.

Following the meetings, the independent Supervisory Board members presented practical recommendations aimed at further developing corporate governance, improving the effectiveness of the Company’s governing bodies and supporting the successful implementation of its strategic initiatives.

Priority areas for the second half of 2026 were also identified. Their implementation is expected to further strengthen the Company’s management system, improve the quality of strategic planning and enhance the effectiveness of long-term investment projects.

AMMC’s strong corporate governance is also supported by the results of an independent assessment. In 2025, Winvestment Consult, an independent auditing firm, conducted a comprehensive assessment of the Company’s corporate governance system.

According to the assessment results, AMMC received a score of 958 points. This result demonstrates a high level of corporate governance maturity, the effectiveness of the Company’s governing bodies, adherence to the principles of transparency, accountability and responsibility, as well as a high degree of compliance with modern corporate governance requirements.

Today, effective corporate governance is one of the key strategic factors supporting AMMC’s sustainable and long-term development. The consistent adoption of international standards and principles, constructive engagement with independent Supervisory Board members, stronger strategic management mechanisms and the continuous improvement of corporate processes provide a solid foundation for the Company’s future growth.

Alongside implementing major investment projects, modernising production facilities and expanding its technological capabilities, AMMC is also steadily developing its corporate governance institutions. This helps improve management efficiency and investment attractiveness, while fostering greater confidence among shareholders, investors, partners and other stakeholders.

This comprehensive approach will enable AMMC not only to strengthen its position as a leader in Uzbekistan’s mining and metallurgical industry, but also to pursue its long-term strategic objectives consistently and with confidence, underpinned by modern corporate governance principles.

Sh. Nazarova
Head of the Corporate Secretariat, “AMMC” JSC