Why is this important
NMMC remains a key driver of Uzbekistan’s economy and one of the world’s largest gold producers. The growth in profits was supported by high gold prices and increased production volumes.
The company is increasing investments in expanding capacities and exploration, strengthening its long-term positions.
Key facts
- Gold production: 1.54 million ounces (+1.3% g/g);
- Revenue: $4.7 billion (+41%);
- Net profit: $1.5 billion (+71.8%);
- EBITDA: $3.06 billion (+51.7%), margin — 64.9%;
- AISC (total costs): $1 164/ounce (+due to growth in royalties and production);
- Investments: $412 million (+38.3%), directed to expansion and geological exploration;
- Debt burden: improved from 0.6x to 0.5x.
What they say
The Deputy General Director of NMMC, Jahongir Khasanov, noted that the growth of financial indicators is ensured by the combination of high gold prices and the expansion of production.
Context
NMMC is the 4th largest gold producer in the world and the largest in Central Asia. Mineral resource base — 140 million ounces. The largest deposit is Muruntau-Mutenbai. The company employs more than 47 thousand people.
