Iskander Mahmudov President of the Ural Mining and Metallurgical Company Date of Birth: 05.12.1963 Country: Uzbekistan

Biography of Iskander Mahmudov

Iskander Mahmudov was born on December 5, 1963, in Bukhara. He spent his childhood and youth in Tashkent, where his parents worked as professors at local universities. They insisted that he pursue a degree in Oriental Studies at the University, as it was closely associated with military organizations and promised a remarkable career advancement. After graduating from the institute, Mahmudov worked in Libya and then in Iraq, gaining commercial experience in various organizations.

Later, he moved to Moscow, where he met his long-time acquaintance and fellow countryman Mikhail Cherny. They took their first steps in business together. Mahmudov initially joined Trans World Group but soon left to focus on copper sales. He held various positions in different companies until 1996 when he became the CEO of the Gai Mining and Processing Plant, a leading copper ore extraction enterprise in the Urals. In 1999, Mahmudov, along with his partners, founded the Ural Mining and Metallurgical Company (UMMC), where he has served as president since its inception.

UMMC, established in 1999 through the efforts of Iskander Mahmudov and his partners, aimed to consolidate the ownership of various copper assets in Russia. Mahmudov acquired shares in numerous copper enterprises, including mining and processing plants and end product manufacturers, such as the Lithuanian "Litcabell." The total turnover of these ventures reached $1.2 billion in 2001. Analysts estimate that Mahmudov now controls 35-40% of Russia's copper production, with the remainder falling under the control of "Norilsk Nickel." His business partnerships include Oleg Deripaska and Alexander Mamut.

Aside from his business activities, Mahmudov has been involved in controversies and legal disputes. Mikhail Zhivilo, a former partner and close friend of Mahmudov, accused him, along with Oleg Deripaska, of bribery, extortion, and even ordering assassinations. Mahmudov's alleged involvement in the legal battle between his ex-wife Elena Mordashova and her former husband Alexei Mordashov has also raised concerns. However, Mahmudov has denied any involvement in these matters, stating that he has no business relationship with Mordashov and only maintains friendly relations with certain individuals.

UMMC is considered a prominent player in the copper industry and has been actively expanding its presence. Mahmudov's future plans include acquiring "Severstal" and creating a powerful metallurgical alliance. He has already taken the first step by acquiring a 36% stake in the Kovdor Mining and Processing Plant, a significant supplier of iron ore to Severstal. There are also reports of Mahmudov's interest in acquiring the Kemerovo Chemical Plant "Azot" and Altai's "Koks," a major coke producer in Russia. His business empire also includes control over coal mining in the Kuzbass region, with UMMC controlling "Kuzbassrazrezugol," the largest coal company in the country.

Iskander Mahmudov is known for his ambitions and aspirations to further expand his influence in various sectors, such as railways, power stations, and ports. Despite controversies surrounding his business dealings, Mahmudov remains a significant figure in the Russian business landscape.