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Navoi Mining and Metallurgical Company

Field	Value
name	Navoi Mining & Metallurgy Company
type	Joint-stock company
logo	Navoi Mining and Metallurgical Company logo.jpeg
foundation	1958
location	Navoiy, Uzbekistan
key_people	Kuvondik Sanakulov, Director General
num_employees	46,629 (2023)
owner	Ministry of Economy and Finance of the Republic of Uzbekistan (98%)
State Assets Management Agency of the Republic of Uzbekistan (2%)
revenue	US$7,395 million (2024)
operating_income	US$3,928 million (2024)
net_income	US$2,137 million (2024)
industry	Mining
products	Gold and silver products
homepage

State Assets Management Agency of the Republic of Uzbekistan (2%)

Navoi Mining and Metallurgical Company () is a large Uzbek industrial enterprise. The company's most important gold ore deposits are located in the Kyzylkum Desert.

History

The company was established to mine for uranium, for the Soviet nuclear weapon programme, at the Muruntau mine in the Kyzylkum Desert in 1958. However, in the 1960s and 1970s, it diversified into gold mining at the Muruntau mine.

In 2008, it entered into a contact to supply the South Korean company Korea Electric Power Corporation (KEPCO) with 2,600 tonnes of uranium over the next seven years. and, in 2014, it signed a contract to deliver 2,000 tonnes of uranium concentrates annually to India over the next four years.

In 2022, the company said it was considering issuing Eurobonds in 2022 and then conducting an initial public offering on a major stock exchange.

In accordance with a decision of the Government of Uzbekistan, on 1 January 2022, it was reorganized and split into three divisions: (i) the JSC Navoi Mining and Metallurgical Combine (ii) the state enterprise "Navoiyuran", and (iii) the state institution "Fund of Navoi Mining and Metallurgical Combine".

References

(March 2023). "Navoi Gold". Navoi Mining Metallurgical Company.
"Financial statements for the year ended 31 December 2024". Navoi Mining and Metallurgical Company.
(5 July 2024). "Uzbekistan gold mining giant Navoi Mining and Metallurgical Company assigned its inaugural international credit rating". bne IntelliNews.
(18 June 2025). "The Navoi Mining & Metallurgical Combine is the jewel in Uzbekistan's golden crown". Intellinews.
"Uzbekistan Uranium".
"Uzbekistan to supply 2,000 tons of uranium to India".
(11 October 2021). "Eurobonds and IPO to help gold producer boost production". Global Markets.
uz, Kun. "NMMC split into three independent enterprises".

Info: Wikipedia Source

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uranium-mining-companies-of-uzbekistan mining-companies-of-uzbekistan gold-mining-companies mining-companies-of-the-soviet-union

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