Yevgeny Antonov has stepped down as First Deputy Chief Executive Officer of the Navoi Mining and Metallurgical Company (NGMK) after 3.5 years in the role, according to the Unified Corporate Information Portal. He has also been removed from the company’s list of affiliated persons. On December 24, 2025, NGMK’s Supervisory Board decided to appoint Jahongir…
Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Navoi Mining and Metallurgical Company (NMGK) at BB with a Stable Outlook. The company’s senior unsecured notes were also affirmed at BB, with a Recovery Rating of RR4. According to Fitch, the rating reflects NMGK’s scale as the world’s fourth-largest gold producer, with an…
In the first half of 2025, Navoi Mining and Metallurgical Company (NGMK) produced goods worth 60.8 trillion sums, a 44.1% increase compared to the same period in 2024, when output stood at 44.2 trillion sums. The physical volume of production rose by 1.4%, reaching 1.54 million troy ounces of gold (approximately 47.8 metric tons), based…
Yevgeny Antonov, First Deputy General Director of Navoi Mining and Metallurgical Company (NGMK), commented on the potential initial public offering (IPO) of the company during a conference organized by Fitch Ratings. According to Antonov, the decision to conduct an IPO lies with the shareholder – the state – which currently owns 100% of the company.…
Sustainable Fitch has assigned JSC Navoi Mining and Metallurgical Company (NGMK) an ESG Entity Rating of “3” and an entity score of 51. This reflects NGMK’s efforts to implement its strategy for sustainable development, balanced against the environmental and social impacts of its operations. NGMK is a state-owned gold mining company based in Navoi. Its…
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…