MINEX Forum

Tag: Navoiyuran

  • Navoiyuran Reports 136% Surge in Net Profit for H1 2026

    Navoiyuran Reports 136% Surge in Net Profit for H1 2026

    Navoiyuran, a state enterprise in Uzbekistan, has reported a remarkable 136.1% increase in net profit for the first half of 2026, reaching nearly 4.3 trillion soums. This significant growth is compared to the 1.8 trillion soums recorded during the same period in 2025. The company’s net revenue also saw a substantial rise, growing by 101.8% year-on-year to 9.7 trillion soums, while gross profit surged by 109.1%, exceeding 7 trillion soums.

    The financial health of Navoiyuran has improved markedly, with total assets climbing to 19.8 trillion soums, reflecting a 70.5% increase from the previous year. Capital has also risen by 60.1% to 15 trillion soums, and retained earnings have increased by 73.3% to reach 13.3 trillion soums. Over the past year, the enterprise’s total profit amounted to 7.9 trillion soums, which is 56.6% higher than the previous year.

    However, the company has also seen an increase in long-term bank loans, which rose to 3.6 trillion soums by the end of the reporting period, compared to 1.6 trillion soums a year earlier. This increase in debt may be a point of concern as the company prepares for future growth.

    Looking ahead, Navoiyuran is planning to conduct an initial public offering (IPO) in the latter half of 2026, aiming to offer between 10 to 15 percent of its shares. Despite these ambitious plans, the company has yet to transition from a state-owned enterprise to a joint-stock company, which is a crucial step before the IPO can take place. The expected IPO could provide Navoiyuran with additional capital to further enhance its operations and financial standing in the competitive mining sector.

  • Uzbekistan Mining Minister Meets Itochu Corporation to Advance Japanese Investment in Geological Exploration and Critical Minerals

    Uzbekistan Mining Minister Meets Itochu Corporation to Advance Japanese Investment in Geological Exploration and Critical Minerals

    Uzbekistan’s Minister of Mining Industry and Geology Bobir Islamov has met with representatives of Japan’s Itochu Corporation to discuss expanding cooperation in mining and geological exploration, with a focus on attracting Japanese investment and advanced technologies to Uzbekistan’s growing minerals sector.

    The meeting took place on the sidelines of the fifth Tashkent International Investment Forum and was attended by officials from the Ministry of Mining Industry and Geology and state-owned uranium producer Navoiyuran. The parties reviewed opportunities to advance prospective joint projects and strengthen investment flows into Uzbekistan’s mineral resources sector.

    Itochu is one of Japan’s largest general trading companies, operating across metals and minerals, energy, machinery, chemicals, food and infrastructure in more than 60 countries. The corporation already has a footprint in Uzbekistan’s uranium sector through a joint uranium enterprise in Navoi involving Navoiyuran, making the meeting a natural extension of an existing commercial relationship.

    The discussions reflect Uzbekistan’s broader strategy of attracting foreign capital and technological expertise to develop its substantial mineral endowment — including uranium, gold, copper and a growing portfolio of critical minerals — as the country seeks to move beyond raw material extraction toward value-added industrial production. Japan’s interest in Central Asian minerals is driven by structural necessity: the country is entirely dependent on mineral imports and has been systematically diversifying supply chains away from Chinese dominance through government-backed engagement across the region.

  • Navoiyuran Launches Commercial Production at Kizilkok Uranium Mine With Low-Cost Oxygen Leaching Technology

    Navoiyuran Launches Commercial Production at Kizilkok Uranium Mine With Low-Cost Oxygen Leaching Technology

    Uzbekistan’s state uranium producer Navoiyuran has commenced full commercial production at the Kizilkok deposit in Navoiy Region, following a pilot industrial phase that began in December 2024, the company’s press service has confirmed.

    The deposit is being developed using in-situ leaching with gaseous oxygen as the oxidising agent in a mini-reagent technology process. Navoiyuran says the approach allows significantly more uranium to be extracted while reducing production costs by a factor of two to three compared with conventional methods.

    Kizilkok holds uranium reserves of 9,400 tonnes and resources of approximately 10,900 tonnes, making it the third-largest asset in Navoiyuran’s portfolio after the Sugrali deposit at 20,800 tonnes and Uchkuduk at 14,800 tonnes. Mining at the site is planned to continue for 15 years, with annual extraction of up to 1,200 tonnes of uranium at peak capacity. The company also notes that the northern part of the licence area holds potential for further resource expansion.

    The commissioning of Kizilkok follows a year of strong output growth: Navoiyuran increased uranium production by 35% in 2025, reaching 7,000 tonnes. The expansion is set to continue in 2026 with the planned launch of three additional deposits — Arnasay, Yuzhny Zhongeldi and Vostochny Agron — alongside Western Kizilkok. The company has indicated that the increase in mining volumes will be accompanied by a corresponding expansion of processing capacity.

  • Uzbekistan’s Navoiyuran Commissions Kizilkok Uranium Mine as Output Surges 35% to 7,000 Tonnes and Sulphuric Acid Costs Loom

    Uzbekistan’s Navoiyuran Commissions Kizilkok Uranium Mine as Output Surges 35% to 7,000 Tonnes and Sulphuric Acid Costs Loom

    Uzbekistan’s state uranium company Navoiyuran has commissioned the Kizilkok uranium mine in Navoiy Region, marking a significant addition to the country’s production base as it pursues an ambitious expansion programme targeting higher output by 2030.

    Pilot industrial operations at Kizilkok began in December 2024, and the project reached commercial production status within two years of active work, according to Navoiyuran director general Jamal Fayzullayev, quoted in a World Nuclear Association industry publication. The mine is expected to operate for 15 years with peak annual production of up to 1,200 tonnes of uranium, making a meaningful contribution to a national output target that has already seen dramatic growth. Navoiyuran produced 7,000 tonnes of uranium in 2025 — a 35% increase on the 5,200 tonnes extracted in 2024.

    Kizilkok’s reserves are estimated at 9,400 tonnes with resources of 10,900 tonnes, making it the third-largest asset in Navoiyuran’s portfolio after the Sugrali deposit at 20,800 tonnes and Uchkuduk at 14,800 tonnes. The company manages 43 uranium deposits in total, with a combined resource base of 151,100 tonnes including approximately 96,600 tonnes of reserves. The new mine is developed using oxygen-based in-situ leaching technology with low-activity chemical reagents, which reduces extraction costs. Navoiyuran’s total cash costs stand at $27 per pound of uranium oxide — higher than Kazatomprom’s C1 cost of above $18 per pound in 2025, though both companies benefit from the in-situ leaching method that dominates Central Asian uranium production.

    The production surge is generating a significant side effect: rapidly rising demand for sulphuric acid, a key reagent in the leaching process. The pressure on acid supply mirrors a trend already visible in Kazakhstan, where growing uranium output has similarly driven domestic demand to the point where exports ceased several years ago. Uzbekistan is set to commission a new sulphuric acid plant with capacity of 500,000 tonnes this year to supplement locally produced acid from metallurgical by-products — but the new facility will itself require large volumes of processed sulphur that domestic oil and gas cannot fully supply, creating a dependency on imports from Kazakhstan and other countries. With geopolitical pressures pushing sulphur prices to as high as $500 per tonne in some markets, rising input costs could weigh on Uzbekistan’s uranium production economics as output continues to grow.

    Financially, Navoiyuran reported revenues of $1.112 billion in 2025, with adjusted net profit rising to $472 million and an average realisation price of $69.50 per pound of uranium oxide. By comparison, Kazatomprom — the world’s largest uranium producer — recorded sales of approximately $3.9 billion at an average price of $65.32 per pound on volumes of 13,700 tonnes, with net profit of approximately $1.7 billion.

  • Uzbek Firm “Navoiyuran” Signs €9M Deal to Transport Uranium Concentrate to France

    Uzbek Firm “Navoiyuran” Signs €9M Deal to Transport Uranium Concentrate to France

    Uzbekistan’s “Navoiyuran” has signed a €9 million contract with Kazakhstan’s “TOO Logistic Centre” to ship uranium concentrate to France, according to EURASIA TODAY. The agreement involves transporting 500 containers (totaling 6,000 tons) from Saint Petersburg port to Malvési in southern France.

    Under the deal, “TOO Logistic Centre” must deliver each batch within 15 days of departure from Russia, with all shipments completed by Q1 2026. Additionally, “Navoiyuran” plans to export uranium to the US and Canada via Russian routes and is currently seeking logistics partners for these shipments.

  • Orano and Navoiyuran Sign Agreement to Develop South Djenghildy Uranium Deposit in Uzbekistan

    Orano and Navoiyuran Sign Agreement to Develop South Djenghildy Uranium Deposit in Uzbekistan

    French nuclear giant Orano and Uzbek state-owned Navoiyuran have signed a groundbreaking agreement to advance the industrial development of the South Djenghildy uranium deposit in Uzbekistan. The partnership, facilitated through their joint venture Nurlikum Mining, aims to significantly boost uranium production, reaching up to 700 tons annually within a decade.

    The agreement integrates the South Djenghildy project into Navoiyuran’s existing industrial infrastructure, with the Uzbek company serving as the project operator. Notably, the deal introduces a new partner, Japanese corporation ITOCHU, which has acquired a minority stake in the joint venture. While specific ownership details remain undisclosed, the collaboration underscores a shared commitment to advancing the mining project.

    Orano highlighted that the partnership reflects the determination of all parties to expand the South Djenghildy project, leveraging certified resources to ensure stable uranium production for at least ten years. The project is part of a broader strategic framework agreement signed between Orano and Uzbekistan in 2022, which also includes plans for extensive geological exploration to potentially double the joint venture’s mineral resources.

    Xavier Saint-Martin Tillet, Senior Executive Vice President of Orano Mining, emphasized the project’s role in diversifying the group’s raw material sources. He noted that Orano is applying its geological and technical expertise to further develop the initiative.

    Navoiyuran, the fifth-largest uranium producer globally, specializes in uranium mining and processing, supplying uranium oxide to meet the growing global demand for clean energy. The partnership aligns with Uzbekistan’s ambitions to strengthen its position in the global uranium market.

    In related developments, KATCO, a joint venture between Orano Mining and Kazakhstan’s Kazatomprom, announced plans to launch a uranium processing complex at the Moyynkum deposit in Kazakhstan’s Turkistan region by mid-2025. The facility is expected to produce 2,045 tons of uranium annually, contributing to a total output of 4,000 tons per year.

  • Navoiyuran Reports Record Revenue and Profit Growth in 2023

    Navoiyuran Reports Record Revenue and Profit Growth in 2023

    In 2023, Navoiyuran, Uzbekistan’s leading uranium producer, achieved a remarkable 92.7% increase in revenue, reaching 11.6 trillion UZS. The company’s gross profit from product sales and operating profit more than doubled, hitting 8.67 trillion UZS and 6.15 trillion UZS, respectively. This significant growth underscores Navoiyuran’s strong performance in the global uranium market.

    The company’s retained earnings stood at 6.16 trillion UZS, while its net profit surged from 2.64 trillion UZS in 2022 to 5.31 trillion UZS in 2023, marking a twofold increase. However, total expenses also rose sharply, growing 2.6 times to exceed 2.53 trillion UZS. The primary driver of this increase was a more than threefold jump in other operating expenses, which climbed from 0.65 trillion UZSto 2.14 trillion UZS.

    Earlier in January, Navoiyuran reported a doubling of output in monetary terms, from 6.7 trillion UZSto 13.7 trillion UZS. The company also solidified its position as one of Uzbekistan’s top three taxpayers, contributing 4.6 trillion UZS to the state budget in 2023.

    Navoiyuran, which ranks sixth globally in uranium production, accounts for 7% of the world’s uranium output, producing over 3,800 tons annually. In 2023, Uzbekistan’s uranium concentrate production increased by 11%, reaching 6.7 trillion UZS  in eight projects in 2024, including $50 million in foreign investments.

  • AMMC and Navoiyuran: cooperation in the field of digital transformation

    AMMC and Navoiyuran: cooperation in the field of digital transformation

    On August 17 of this year, the Almalyk Mining and Metallurgical Plant was visited by a delegation of representatives of the state enterprise “Navoiyuran” engaged in activities in the field of digitalization.

    In the executive office of the plant, a meeting was held between the Deputy Chairman of the Board of JSC “Almalyk MMC” for digitalization Abdulla Azizov, profile specialists of the plant with representatives of the state enterprise “Navoiyuran”.

    During the meeting, the guests were provided with information about the work carried out as part of the digital transformation of the AGMK. According to A. Azizov, during the past year, the plant implemented 48 projects (23 of them planned, 25 unplanned) in this direction. These are projects related to the improvement of business process management systems, automation of the mining and transport complex and production automation. This year, more than 40 projects and other tasks are planned to be implemented. Of these, 17 have already been implemented (business process management – 5, infrastructure and cybersecurity – 4, production management – 2 and process automation – 6). For example, in order to improve the efficiency of the management system and digitalization of office work in the department of road transport, an information system for managing vehicles and logistics (Transport Management System) was introduced, through which more than 1,000 units of vehicles and equipment are monitored. Also, the submission and acceptance of applications for transport is carried out completely electronically.

    In accordance with the concept of paperless office work (Paperless work) and a unified identification system, the AMMC introduced the E-Talon information system, within which more than 36,000 employees were provided with new ID-cards. As a result, the amount of paper work has been reduced, and the reporting process now takes less than 7 times less time. More than 20 electronic templates have been created in the information system “Journals”. The system made it possible to keep 70% of paper journals in electronic form and analyze the data.

    Thanks to the information system of interactive dashboards (BI), the speed of automatic collection and processing of “online” information of production and business processes, as well as various automated systems, has increased by 80%. 6 types of paper reports were digitized, which reduced the time of their formation by 3 times.

    Also introduced: digital archive (paper consumption reduced by 25%); project management system (25% more efficient management, analysis and control); a new digital radio station at the Yoshlik I quarry (100 vehicles and 35 workers are provided with radio communications); IP telephony in the Kochbulak, Semguron and Kairagach mines (10 km of fiber optic communication lines have been laid).

    In order to automate production processes and use modern information systems, 27 modern digital strain gauges were installed at the copper processing plant. This made it possible to achieve an accuracy of measuring the weight of ore in the technological process up to 99.8%. Also, in order to automate the technological process of the seventh monosection, 405 instrumentation and 26 control cabinets were installed. Adjusted and put into operation 320 dosing pumps and 14 new tanks for reagents.

    Together with specialists from Metso-Outotec and Engineering Dobersek, the uninterrupted operation of the control system, instrumentation of the Vanyukov furnace and the sulfuric acid shop of the copper smelter was ensured.

    As part of the introduction of automatic control of mills (SAU-3M) in the Khandiza mining department, instrumentation cabinets were completely updated, which made it possible for the operator to control deviations from the technological regulations and monitor the state of the technological equipment.

    During the visit, the guests also visited the Kalmakyr mining department, a copper processing plant, where they could personally observe the operation of all information technology systems introduced as part of digitalization.

    Thus, the representatives of the delegation were familiarized in detail with the ERP, SCADA, LIMS, SAP systems, as well as programs for monitoring and analyzing production processes and data.

    – “Today we managed to witness the active work carried out at the AMMC in the field of information technology. Currently, our company pays great attention to the processes of digitalization of production. During the visit, we managed to learn a lot of new and useful things for ourselves. We also decided to purchase software systems from AGMK for their further implementation at home. Another important point that we drew attention to is that the processes of digitalization at the AGMK are proceeding quite quickly. And it pays off at a relatively low cost. We plan to further strengthen our cooperation with the plant,” Khasan Khaydarov, Deputy General Director for Transformation of Navoiyuran Group of Companies, shared his impressions of the visit.

    It should be noted that the purpose of this visit is to ensure the implementation of the Decree of the President of the Republic of Uzbekistan dated July 14, 2022 No. PP-319 “On measures to increase the volume of production, processing of uranium and the transformation of the State Enterprise Navoiyuran in 2022-2030”.