TASHKENT, Uzbekistan, February 19. Sustainable Fitch has assigned Uzbekistan's Almalyk Mining and Metallurgical Complex (AMMC) an ESG Entity Rating of ‘3’ and an entity score of 56, Trend reports.
This rating reflects the company’s sustainable development strategy, strong governance, and solid environmental practices, while also acknowledging the environmental challenges inherent in the mining and metallurgical sectors.
The assessment evaluates AMMC's alignment with reference taxonomies, its contribution to the UN Sustainable Development Goals, and the integration of ESG considerations into its business strategy and management.
AMMC is one of Uzbekistan’s largest mining and metallurgical companies and a leading non-ferrous metals producer in Central Asia. Operating primarily in Uzbekistan, the company exports its products to over 17 countries. Its vertically integrated production process spans geological exploration, mining, ore processing, and the creation of finished products such as copper, silver, and gold, which are crucial to multiple industries. However, AMMC’s mining activities contribute to significant environmental challenges, including high energy consumption, greenhouse gas emissions, and waste and water usage. On the positive side, metals like copper are key to green and transition technologies.
Overall, the rating reflects AMMC’s strong governance and efforts to address environmental and social issues, positioning it as a company making meaningful strides in sustainability despite its sector’s inherent challenges.