Navoi Mining and Metallurgical Company (NGMK) produced goods worth 93.9 trillion sums in 2024, representing a 5.3% increase compared to 2023. The enterprise contributed 57.5 trillion sums in taxes and dividends to Uzbekistan’s state budget. Under its investment program, NGMK invested $790 million, leading to the creation of 715 new jobs. Additionally, within the localization…
In 2025, the Navoi Mining and Metallurgical Company (NMMK) plans to issue eurobonds worth $500 million. In 2024, NMMK successfully placed eurobonds on the international market, raising $1 billion. These bonds were listed on the London Stock Exchange in October. According to Fitch Ratings, the bond issuance is an important step in implementing NMMK’s strategic…
Olga Ponkratova, the Buyuk Kelajak expert, who has graduated from Russia’s Higher School of Economics and Harvard Business School, has been appointed deputy director of the Navoi Mining and Processing Works. With vast experience in mining, Ponkratova worked at Evraz, Novolipetsk Steel, Uralkali, Alrosa, Basic Element, ERG/ENRC, Glencore, Kazphosphate, Teu-Ken Samruk and EY. She also…
The Navoi Mining and Metallurgical Company (NMMC) has reached a historic milestone by successfully pricing its inaugural dual-tranche notes offering, which garnered a record oversubscription of $1 billion. This significant achievement includes $500 million in 4-year notes with a 6.70% coupon rate and $500 million in 7-year notes at 6.95%. NMMC’s offering generated the largest…
Uzbekistan’s Navoi Mining and Metallurgical Company (NMMC) has successfully implemented the ISO 37001:2016 international standard, strengthening its commitment to corporate transparency and global anti-corruption efforts. According to the company, in line with its ongoing efforts to align its management systems with international standards, NMMC underwent a rigorous external audit conducted by CERT International. The audit…
Navoi Iron and Steel Works has launched another mill-block – No. 7 at the hydrometallurgical plant No. 3. Annual capacity of the plant is 8 million tons of ore. With the new mill block, the capacity will exceed 9 million tons. In the future the company will expand its shops of flotation, bio-oxidation, filtration, drying…
In 2023, Navoi Mining and Processing Works retained the status of the largest taxpayer. Last year, the company made 67.5 trillion soums worth of products, up by 3.8% YoY. Prime cost decreased by 5.8%. 38.6 trillion soums was paid to the state budget. 1445 new jobs were created. The share of the company in the…
In January, 2186 large taxpayers paid around 9 trillion soums of taxes to the state budget. 10 largest taxpayers with state share accounted for 4.6 trillion soums. Navoi Mining and Processing Works paid the most – 2.4 trillion soums. (Ukrainian metal)
