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NMMC (English: Joint-stock company Navoi Mining & Metallurgy Company, Uzbek: Navoiy kon-metallurgiya kombinati aksiyadorlik jamiyati) is the largest Uzbek industrial enterprise, is involved in the mining industry, and is one of the top ten largest gold producers in the world. The company's most important gold ore deposits are located in the Kyzyl Kum Desert.[3]
| Company type | Joint-stock company |
|---|---|
| ISIN | UZ7057810010  |
| Industry | Mining |
| Founded | 1958 |
| Headquarters | Navoi, Uzbekistan |
Key people | Kuvondik Sanakulov, Director General |
| Products | Gold and silver products |
| Revenue |  US$5.7 billion (2023)[1] |
| Owner | Ministry of Economy and Finance of the Republic of Uzbekistan (98%) State Assets Management Agency of the Republic of Uzbekistan (2%) |
Number of employees | 46,629 (2023)[2] |
| Website | http://www.ngmk.uz/en/ |
In 2008, the South Korean company Korea Electric Power Corporation (KEPCO) signed a contract to supply 2,600 tonnes of uranium until 2015.[4]
In 2011, the company achieved a turnover of 3.5 billion dollars. In 2012, it employed 65,000 people. In 2013, 1,663 tonnes of uranium were delivered to China, for which Uzbekistan is the second-largest uranium supplier after Kazakhstan.[4]
In 2014, the Nuclear Suppliers Group (NSG) signed a contract to deliver 2,000 tonnes of uranium concentrates annually to India until 2018.[5]
The company announced its intention to Eurobond in 2022 and IPO internationally shortly thereafter.[6]
In accordance with the decision of the Government of the Republic of Uzbekistan, from January 1, 2022, the state enterprise Navoi Mining and Metallurgical Combine was reorganized and the following enterprises were organized on its basis:
- JSC Navoi Mining and Metallurgical Combine;
- State enterprise "Navoiyuran";
- State institution "Fund of Navoi Mining and Metallurgical Combine".[7]
Divisions
editNorthern Mining Administration (NMA)
editNMA was founded in 1958 in Uchkuduk for uranium\ mining in open pits and in underground mines on the base of Uchkuduk Deposit.
Currently NMA's main activities are as follows:
- mining and processing of gold ore of Kokpatas Deposit;
- marble goods manufacture on the base of "Novy" mine.
Central Mining Administration (CMA)
editCMA was founded in 1964 in Zarafshan for development of Muruntau Mine - unique gold ore Deposit. Gold mining and processing facilities were constructed on its base. Since March 1967 CMA has been mining gold in open pit, fulfilling the complete set of works – from prospecting and exploration till gold bars manufacture.
Gold and silver produced by CMA's Hydrometallurgical Plant #2 conform to the International Standards.
CMA's main activities:
- gold mining in Muruntau open pit;
- gold ore processing at Hydrometallurgical Plants #2, #5, #7 and waste dump formation;
- improvement of technologies for development of Muruntau open pit;
- evaluation of mineral reserves increase and perspectives of further development of mineral base.
Southern Mining Administration (SMA)
editSMA is located at Zarkent, Samarqand Region. It was founded in January 1964 for the development of the Sabirsay uranium deposit.
SMA's main activities:
- development and mining of the Zarmitan and Gujumsay gold ore deposits and the Marjanbulak resin-in-pulp gold plant;[8]
- marble mining and manufacture of polished facing tile;
- consumer goods production.
Navoi Machine-Building Plant Production Association
editIt was founded in 1963 as a maintenance shop for the purposes of repair of NMMC's equipment.
NMBP is quite large unit which produces all kinds of castings; provides NMMC with spare parts, pumps, metal constructions, liner, outdoor equipment; produces wood-working machines and metal-removal machine tools, welding electrodes, consumer goods (washing machines, kitchen machines). This unit is significant in the republic as having facilities for repair of complex equipment used outside of NMMC.
Dense Leaching Workshop (formerly Zarafshan-Newmont Joint Venture)
edit"Zarafshan-Newmont" was Uzbek-American joint venture that had been put into operation in May 1995 for processing of sub-economic and low grade gold ore of Muruntau Deposit. "Zarafshan-Newmont" JV is a plant using heap leaching technology not previously applied in CIS countries.
"Zarafshan-Newmont" JV was constructed owing to use of foreign investment and technology. It is the first successfully realized large foreign investment in the Republic of Uzbekistan. This joint venture is closed now. All machines and production lane moved to NMMC (CMA).
Newmont doesn't have share in this JV anymore. At the moment it's a property of NMMC under the name of "Dense Leaching Workshop."
Zarafshan Construction Administration (ZCA)
editFounded in 1967 carries out industrial and civil construction, building of automobile roads and railways.
References
edit- ^ "Financial statements for the year ended 31 December 2023" (PDF). Tashkent: JSC “Navoi Mining and Metallurgical Company”. 25 May 2024. Retrieved 7 July 2024.
- ^ "Navoi Gold" (PDF). PDAC, Toronto, Ontario: Navoi Mining Metallurgical Company. March 2023. Retrieved 7 July 2024.
- ^ Aris, Ben (5 July 2024). "Uzbekistan gold mining giant Navoi Mining and Metallurgical Company assigned its inaugural international credit rating". bne IntelliNews. Berlin. Retrieved 7 July 2024.
- ^ a b "Uzbekistan Uranium". world-nuclear.org. Archived from the original on 2014-02-09. Retrieved 2024-04-16.
- ^ "Uzbekistan to supply 2,000 tons of uranium to India". akipress.com. Retrieved 2024-04-16.
- ^ "Eurobonds and IPO to help gold producer boost production". 11 October 2021.
- ^ uz, Kun. "NMMC split into three independent enterprises". Kun.uz. Retrieved 2024-06-13.
- ^ "Zarkent settlement" (PDF). Navoi Mining and Metallurgical Company. 24 February 2022. Retrieved 11 July 2024.