Skip to main content

Navoiy Mining and Metallurgical Combinat (NGMK), Uzbekistan’s leading gold mining company, has shared its 2024 performance results. In 2024, NGMK produced goods worth 93.9 trillion sums, representing a 5.3% growth compared to 2023. However, when compared to the 2023 report, the production volume in sum terms increased by 39.1%.

NGMK paid 57.5 trillion sums in taxes and dividends to the Uzbekistan state budget.

Investment programs were implemented with a total value of $790 million, creating 715 new jobs. As part of the localization program, NGMK produced goods worth 916 billion sums and procured products worth 6.2 trillion sums through inter-industry industrial cooperation.

By implementing a set of measures to optimise costs, NGMK managed to reduce the production cost by 3.7 trillion sums.

In October 2024, NGMK issued its first Eurobonds worth $1 billion on the London Stock Exchange (LSE). The bonds consist of two tranches: one worth $500 million with a four-year maturity and a 6.7% annual coupon rate, and another worth $500 million with a seven-year maturity and a 6.95% annual coupon rate.

The total demand for the Eurobonds reached $5.5 billion, the highest for Uzbekistan issuers since the first sovereign bond issuance in 2019. NGMK plans to issue another $500 million worth of Eurobonds in 2025.

Source and Credit: spot.uz

London, United Kingdom

+44 208 089 2886

Copyright © 2002-2025. Advantix Ltd. All rights reserved.   Advantix Ltd is a company registered in England and Wales. Company No. 04611885. VAT No. GB 831029754.

MINEX ForumTM is a registered trademark No. UK00002566832.