Principles and Approach
NMMC JSC Corporate Governance Structure
In order for NMMC to improve operating efficiency, achieve its sustainable development goals, and comply with international best standards, the Company constantly strives to refine its approach to corporate governance.
In 2020, the president of Uzbekistan approved a resolution entitled "On measures to reform the State Enterprise Navoi Mining and Metallurgical Combine", which was designed to introduce modern principles of corporate governance, promote a transition to free market mechanisms, and increase competitiveness. As the result of the transformation project in 2021 the former NMMC State Enterprise was divided into three companies: NMMC JSC, the Navoiuran State Enterprise and the NMMC Foundation.
NMMC continues to implement transformation projects with respect to improving corporate governance.
General Meeting of Shareholders
According to the corporate charter of the Navoi Mining and Metallurgical Combine Joint Stock Company, the General Meeting of Shareholders is the supreme management body.
The Ministry of Economics and Finance currently represents the state as shareholders in NMMC.
Strategic Approach
NMMC adheres to a strategic approach to management, focusing on long-term development and sustainability. Management’s key priorities are innovation, the modernization of production processes and attracting investment to ensure sustainable growth and strong operational performance.
NMMC JSC is the largest industrial enterprise in the Republic of Uzbekistan, making it a significant contributor to the economic growth and social development of the country. This status dictates a high level of responsibility in the Company’s approaches to sustainable development and to building and maintaining relationships with all our stakeholders, including employees, shareholders, representatives of public and state organizations, customers, and partners. As such, when making strategic decisions and drafting plans for future development, we always take into account the interests of our stakeholders.