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Company type | Joint-stock company |
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ISIN | UZ7057810010 ![]() |
Industry | Mining |
Founded | 1958 |
Headquarters | Navoiy, Uzbekistan |
Key people | Kuvondik Sanakulov, Director General |
Products | Gold and silver products |
Revenue | ![]() |
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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 | www |
Navoi Mining and Metallurgical Company (Uzbek : Navoiy kon-metallurgiya kombinati aksiyadorlik jamiyati) is a large Uzbek industrial enterprise. The company's most important gold ore deposits are located in the Kyzylkum Desert. [3]
The company was established to mine for uranium, for the Soviet nuclear weapon programme, at the Muruntau mine in the Kyzylkum Desert in 1958. [4] However, in the 1960s and 1970s, it diversified into gold mining at the Muruntau mine. [4]
In 2008, it entered into a contact to supply the South Korean company Korea Electric Power Corporation (KEPCO) with 2,600 tonnes of uranium over the next seven years. [5] and, in 2014, it signed a contract to deliver 2,000 tonnes of uranium concentrates annually to India over the next four years. [6]
In 2022, the company said it was considering issuing Eurobonds in 2022 and then conducting an initial public offering on a major stock exchange. [7]
In accordance with a decision of the Government of Uzbekistan, on 1 January 2022, it was reorganized and split into three divisions: (i) the JSC Navoi Mining and Metallurgical Combine (ii) the state enterprise "Navoiyuran", and (iii) the state institution "Fund of Navoi Mining and Metallurgical Combine". [8]