{"id":12342,"date":"2025-11-06T19:14:48","date_gmt":"2025-11-06T14:14:48","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/ammc-increased-its-profit-by-35-to-8-3-trillion\/"},"modified":"2025-11-06T19:14:48","modified_gmt":"2025-11-06T14:14:48","slug":"ammc-increased-its-profit-by-35-to-8-3-trillion","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/ammc-increased-its-profit-by-35-to-8-3-trillion\/","title":{"rendered":"AMMC increased its profit by 35% to 8.3 trillion"},"content":{"rendered":"<h3>Why is this important<\/h3>\n<p>The profit for the third quarter increased by 50% due to record prices for copper and gold. 8.3 trillion for 9 months \u2014 a rate of $1.1 billion in annual profit. Exports fell from 22.8% to 13.2% of revenue \u2014 AMMC shifted its focus to the domestic market. Long-term loans increased by 6.9 trillion soums \u2014 investments in modernization and production expansion. The IPO in 2027 is the primary placement of the largest mining asset.    <\/p>\n<h3>What happened<\/h3>\n<ul>\n<li>Profit for 9 months \u2014 8.3 trillion (+35.1%);<\/li>\n<li>III quarter \u2014 3.8 trillion (+50.1%);<\/li>\n<li>Exports fell to $377.8 million (13.2%) from $486.1 million (22.8%);<\/li>\n<li>Long-term loans \u2014 31.4 trillion (+6.9 trillion);<\/li>\n<li>Short-term loans \u2014 3.5 trillion (-256.1 billion);<\/li>\n<li>The IPO is planned for the first half of 2027.<\/li>\n<\/ul>\n<h3>Financial results<\/h3>\n<ul>\n<li><strong>9 months of 2025:<\/strong> profit of 8.3 trillion against 6.1 trillion in 2024 (+35.1%).<\/li>\n<li><strong>III quarter of 2025: <\/strong>profit of 3.8 trillion against 2.5 trillion in III quarter of 2024 (+50.1%) \u2014 record growth due to copper and gold prices.<\/li>\n<li><strong>Annual rate:<\/strong> if the rate is maintained, the profit for 2025 will reach 11 trillion ($917 million).<\/li>\n<\/ul>\n<h3>Rising prices for copper and gold<\/h3>\n<ul>\n<li><strong>Copper:<\/strong> Growth from $8,000\/ton (2023) to $10,000+ (2025) due to demand for electric vehicles, renewable energy, and supply shortages.<\/li>\n<li><strong>Gold:<\/strong> growth from $1800\/ounce (2023) to $2600+ (2025) due to geopolitical instability, inflation, and central bank demand.<\/li>\n<\/ul>\n<p>AMMC produces 300 thousand tons of copper and 34 tons of gold per year. The price increase brought additional billions in profit. <\/p>\n<h3>Decline in exports<\/h3>\n<ul>\n<li><strong>2024:<\/strong> $486.1 million in exports (22.8% of revenue).<\/li>\n<li><strong>2025:<\/strong> $377.8 million in exports (13.2% of revenue) \u2014 a decrease of $108 million (-22%).<\/li>\n<li><strong>Reasons:<\/strong>\n<ul>\n<li>Reorientation to the domestic market (construction, energy, production);<\/li>\n<li>Price increases in the global market have made exports less profitable due to duties;<\/li>\n<li>The state demands to provide the domestic market with copper, gold.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Credits<\/h3>\n<ul>\n<li><strong>Long-term:<\/strong> 31.4 trillion (+6.9 trillion) \u2014 investments in equipment modernization, capacity expansion, development of new deposits.<\/li>\n<li><strong>Short-term: <\/strong>3.5 trillion (-256.1 billion) \u2014 debt burden optimization, transition to long-term financing.<\/li>\n<\/ul>\n<h3>IPO in 2027<\/h3>\n<p>AMMC planned the initial placement of shares in the first half of 2027. This will be the largest IPO in the history of Uzbekistan \u2014 the company&#8217;s valuation is $5-7 billion, the placement of 10-20% of shares will attract $500-1400 million. Investors will gain access to a profitable asset (annually $1+ billion in profit) that diversifies the portfolio through copper and gold.  <\/p>\n<h3>AMMC<\/h3>\n<ul>\n<li><strong>Products: <\/strong>copper (300+ thousand tons\/year), gold (34 tons\/year), silver, molybdenum, zinc.<\/li>\n<li><strong>Location:<\/strong> Tashkent region, Almalyk.<\/li>\n<li><strong>Deposits: <\/strong>Almalyk, Kalmakyr, Farther \u2014 reserves for decades.<\/li>\n<li><strong>Owner: <\/strong>the state (100%).<\/li>\n<\/ul>\n<h3>Context<\/h3>\n<ul>\n<li><strong>Record III quarter (+50%): <\/strong>result of the rise in copper and gold prices. Every $1000 increase in copper prices generates +$300 million in revenue while extracting 300 thousand tons. Every $100 increase in gold prices yields +$110 million in extraction of 34 tons (1.1 million ounces).  <\/li>\n<li><strong>Reorientation to the domestic market:<\/strong> exports fell from 22.8% to 13.2% \u2014 AMMC provides construction, energy, and domestic production. Copper is needed for electrification, solar and wind power plants. <\/li>\n<li><strong>Long-term loans (+6.9 trillion):<\/strong> AMMC is investing in modernization \u2014 new smelting furnaces, processing plants, and processing technologies. This will increase productivity and reduce costs. <\/li>\n<li><strong>The IPO is the first for the mining sector: <\/strong>after the IPO, AMMC will become a public company traded on the exchange. Investors will have access to dividends (potentially 20-30% profit = $200-300 million per year). <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>AMMC&#8217;c net profit for 9 months increased by 35.1% compared to 2024. The III quarter showed an increase of 50.1% due to the increase in prices for copper and gold. Export revenue fell from $486.1 million to $377.8 million.  <\/p>\n","protected":false},"author":4,"featured_media":12328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sharing_image":{"poster":"https:\/\/frank.uz\/wp-content\/uploads\/2025\/11\/690ce712138d3.jpg","width":1200,"height":630,"template":"2bf59057","mode":"auto"},"_sharing_image_fieldset":{"Dv78f24rp1hU":12328,"YlB8HH34jIzY":"AMMC increased its profit by 35% to 8.3 trillion"},"pin_until":"","footnotes":""},"categories":[2061],"tags":[2356,2118,3459],"class_list":["post-12342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-ammc","tag-economics","tag-financial-results"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AMMC increased its profit by 35% to 8.3 trillion &#8212; Frank.uz<\/title>\n<meta name=\"description\" content=\"AMMC&#039;c net profit for 9 months increased by 35.1% compared to 2024. 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