Navoi Mining and Metallurgical Company

Navoi Mining and Metallurgical Company is a large Uzbek industrial enterprise. The company's most important gold ore deposits are located in the Kyzylkum Desert.[3]

History

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]

External links

• Official site