NMMC increased production volume by 39% to reach 94 trillion UZS in 2024

The Navoi Mining and Metallurgical Combine (NMMC) has shared its performance results for 2024, revealing that the gold mining company paid 57.5 trillion UZS in taxes and dividends to the state budget, according to the company’s press service.

Last year, NMMC produced goods worth 93.9 trillion UZS. Compared to 2023, production volume increased by 5.3%. However, when compared to the 2023 financial reports, the growth reaches 39.1%. The reason for these discrepancies is unknown, and a query has been sent to NMMC’s press service for clarification.

The gold mining enterprise paid 57.5 trillion UZS in taxes and dividends to Uzbekistan’s state budget.

Under its investment program, the company utilized funds totaling $790 million and created 715 new jobs. As part of its localization program, NMMC produced goods worth 916 billion UZS and purchased goods worth 6.2 trillion UZS through intersectoral industrial cooperation.

As a result of the "implementation of a set of cost optimization measures," the cost of production was reduced by 3.7 trillion UZS.

In October, NMMC issued its first Eurobonds worth $1 billion on the London Stock Exchange (LSE). One Eurobond issuance of $500 million has a maturity of four years, while the other has a maturity of seven years. The coupon yields are 6.7% and 6.95% per annum, respectively.

The total order book for the tranches amounted to $5.5 billion — the largest volume for Uzbek issuers since the first issuance of sovereign bonds in 2019. Another NMMC Eurobond issuance worth $500 million is planned for 2025.

#gold #mining #NMMC