TASHKENT, Uzbekistan, April 18. Navoi Mining and Metallurgical Company (NMMC) has really put its money where its mouth is in 2024, stepping up its investment game like never before.
According to data obtained by Trend, net cash used in investing activities (cash CAPEX) for FY2024 reached $914 million, marking a 34.6 percent rise compared to $679 million in 2023. The growth is attributed to the company’s continued investment in expanding production at existing mines and exploring new near-mine exploration projects.
The company additionally disclosed an escalation in all-in sustaining expenditures, which totaled $979 per ounce, a rise from $866 per ounce in the fiscal year 2023. This modification aligned with projections and was predominantly propelled by an uptick in royalty revenues attributable to augmented gold sales, alongside escalated salary disbursements.
NMMC, founded in 1958, is a key player in Uzbekistan’s mining and metallurgy sectors, specializing in the extraction of gold, uranium, and other valuable minerals.
