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Belgrade
15/04/2024
Mining News

Navoi Mining and Metallurgical Company: Fueling Uzbekistan’s economic expansion

In 2023, Navoi Mining and Metallurgical Company (NMMC) played a significant role in Uzbekistan’s economy, contributing 6.4% to the GDP and accounting for 10.3% of the industrial production volume. As the country’s largest taxpayer, NMMC contributed 14.1% to state budget revenues.

NMMC has made remarkable strides in gold production, climbing from the 7th to the 4th position among foreign gold producers. In 2023, gold production increased by 25%, silver by 47%, gold mining by 2.5 times, and ore processing by 1.6 times compared to 2016.

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Investing heavily in expansion and modernization, NMMC allocated $473.5 million for 12 projects in 2023. The Hydrometallurgical Plant №6, a key investment project, was inaugurated for processing 4 million tons of gold ore annually, based on the Pistali deposit in the Nurata district of the Navoiy region.

Furthermore, NMMC actively participated in the Localization program, producing products worth UZS 629.5 billion ($49.9 million) and purchasing goods worth UZS 5.5 trillion ($435.6 million) from local enterprises through intersectoral industrial cooperation.

In recognition of its commitment to quality, the London Bullion Market Association (LBMA) awarded NMMC a certificate in 2023, affirming its compliance with market standards after successful completion of required tests.

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