The Navoi Mining and Metallurgy Combinat (NGMK) in Uzbekistan is making significant strides in gold production and modernisation, as highlighted during the MINEX Kazakhstan 2026 forum. The company has increased its gold output to 98.2 tonnes in the previous year, achieving a net profit of $3.5 billion, a 64% increase, largely due to favourable market conditions where the average price per ounce exceeded $3,400. NGMK plays a crucial role in Uzbekistan’s strategy for 2030, which aims to elevate the country’s gold production from 118 tonnes to 175 tonnes. This ambitious target positions NGMK as a leader in the region, which currently accounts for 7.5% of global gold production, with nearly half of that attributed to the NGMK.
To maintain its growth momentum, NGMK is leveraging various tools for sustainable development, including geological exploration, advanced technologies, and infrastructure improvements. The company has invested significantly in expanding the Muruntau mine, which has been recognised as a global leader in gold production. The mine’s dimensions have grown substantially since its inception in 1967, and recent investments have further enhanced its capacity.
In addition to expanding existing operations, NGMK is also focusing on exploring new mineral deposits. The company has acquired licenses for new areas and is conducting geological exploration to confirm gold reserves in regions like Kokpatas and Daugiztau. The resource base of NGMK currently stands at approximately 140 million ounces of gold, with ongoing efforts to increase this through the processing of lower-grade ores.
Investment in infrastructure is another key focus for NGMK, with over $1 billion allocated for 2025 alone. This includes modernising existing facilities and introducing new technologies to improve operational efficiency. The company has successfully implemented various projects aimed at enhancing its processing capabilities and expanding its mining fleet, which is crucial for meeting the growing demand for gold.
Digital transformation is also a priority for NGMK, with a strategy in place to modernise operations by 2030. This includes the adoption of information technologies for geological exploration, automated inventory calculations, and real-time monitoring of production processes. The integration of artificial intelligence and machine learning is helping to optimise operations and reduce human error, thereby improving overall efficiency.
As NGMK continues to evolve, its commitment to sustainable practices and technological advancement positions it well for future growth in the competitive global mining landscape. The company’s proactive approach to investment and innovation not only strengthens its market position but also contributes to Uzbekistan’s economic development and industrial sovereignty.
