NMMC Increases Production Volume by 39%

In 2024, the Navoi Mining and Metallurgical Combine (NMMC) produced goods valued at UZS 93.9 trln, marking a 39% y/y increase. This announcement comes from the company’s press service.

Over the past year NMMC boosted its contributions to the state budget through taxes, fees, and dividends by 54%, reaching UZS 57.5 trln. The company also attracted $790 mn in investments, a 67% increase compared to 2023.

Cost optimisation measures allowed NMMC to reduce production costs by UZS 3.7 trln. Additionally, the company increased production under its localisation programme by 45%, reaching UZS 916 bn.

NMMC’s performance in 2024 was positively influenced by high gold prices. The combined ranks among the world’s largest producers of precious metals.

The past year also saw strong market performance for other NMMC products, particularly silver.

Another major milestone for NMMC in 2024 was the issuance of $1 bn worth of bonds on the London Stock Exchange. The company announced plans to continue raising funds in international debt markets in 2025.