PRESS RELEASE

On March 31th, 2023, there was held the press conference for representatives of the media and journalists on the results of the activities of JSC Navoi Mining and Metallurgical Company in 2022 at the museum “NMMC’s history” in Navoi city.

Deputy general director for economics and finance Shukhrat Aminov, head of budgeting and controlling department Umidjon Kostaev, director for public relations Kholmamat Raupov, representatives of the media and journalists participated in the press conference.

At the initiative of the President of the Republic of Uzbekistan, in order to introduce a modern corporate governance system at NMMC, increase competitiveness, expand existing production capacities, attract foreign direct investment to the industry, the enterprise began its activities in the form of Joint Stock Company Navoi Mining and Metallurgical Company from January 1th, 2022.

On May 30th, 2022, for the first time in the history of the company, a full set of financial statements for 2021 was prepared in accordance with international financial reporting standards. The report was checked by an international audit company and received a positive conclusion.

JSC NMMC is the largest industrial enterprise in Uzbekistan. In recent years, the company has been implementing strategic investment projects. As part of these projects, in 2022, the first blasting operations were carried out and mining operations began at the Balpantau and Tamdybulak deposits in Tamdy district, a 35-kilometer railway line connecting the Tamdybulak deposit with Hydrometallurgical plant-2 was put into operation.

Noted that in 2022 the share of JSC NMMC in production of industrial products of Uzbekistan was 10,3%, total share of revenues to the state budget was 20,1%, the company took 4th place in the ranking of world gold producing companies.

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In 2022, JSC Navoi Mining and Metallurgical Company produced products worth 56.6 trillion soums. The growth rate against the previous year was 106.2%. 18.0 trillion soums of taxes and mandatory payments were paid to the state budget of the Republic of Uzbekistan, as well as 15.3 trillion soums of dividends for the state’s share.

By the Investment program, funds for $ 486 million were spent, 2 095 new jobs were created. Within the framework of the Localization program, localized products worth 554.6 billion soums were produced, products worth more than 4.8 trillion soums were purchased through intersectoral industrial cooperation. Implementation of comprehensive measures to optimize costs made it possible to reduce the cost of production by about 1.1 trillion soums.

At the press conference, detailed answers were given to questions from media representatives and journalists.

Navoi Mining and Metallurgical Company is a guarantee of high quality, efficiency and social protection! The large-scale work carried out at the company serves to increase the efficiency of production and labor productivity, as well as to reduce the cost of production.

The Press service of JSC NMMC.