TASHKENT, Uzbekistan, September 16. Uzbekistan’s Navoi Mining and Metallurgical Company (NMMC) raked in a whopping $4,715 million in revenue during the first half of 2025, Trend reports.
According to the company's latest financial statement, this represents a 40.9 percent increase from $3,346 million in the same period of 2024
The growth was primarily driven by favorable market conditions, particularly higher LBMA gold prices, and, to a lesser extent, by an increase in sales volumes.
The all-in sustaining costs (AISC) escalated to $1,164 per ounce during the first half of 2025, marking an increase from $907 per ounce in the first half of 2024. This uptick aligned with projections and was primarily attributable to elevated royalties stemming from surging gold valuations, alongside an augmented volume of lithological material extracted throughout the timeframe.
NMMC, Uzbekistan’s leading gold producer, is the world’s fourth-largest gold mining company. It produced 1.54 million ounces of gold in the first half of 2025, following 3.1 million ounces in 2024, and holds a total mineral resource base of 140 million ounces.
The company’s Muruntau-Myutenbay mine, the world’s largest gold deposit, contains over 100 million ounces of gold. NMMC operates a fully integrated model covering exploration, mining, processing, refining, and equipment manufacturing, employing more than 47,000 people across 12 mining sites, seven processing plants, and two heap leaching workshops.
