The Navoi Mining and Metallurgical Combinat has shared the results of its activities for 2024. This was reported by the press service of the state company.
In the past year, the NMGC produced goods worth 93.9 trillion sums. Compared to 2023, the production volume increased by 5.3%. However, when compared to the reports for 2023, the growth will be 39.1%. The reason for the discrepancies in the indicators is unknown; however, Spot has sent a request to the NMGC press service.
The gold mining enterprise paid taxes and dividends to the state budget of Uzbekistan amounting to 57.5 trillion sums.
Under the investment program, funds amounting to $790 million were utilized, and 715 new jobs were created. As part of the localization program, the NMGC produced goods worth 916 billion sums, and in terms of inter-industry industrial cooperation, products worth 6.2 trillion sums were purchased.
As a result of the "implementation of a set of measures to optimize costs," the production cost of the goods produced was reduced by 3.7 trillion sums.
In October, the NMGC issued its first eurobonds worth $1 billion on the London Stock Exchange (LSE). One issuance of eurobonds worth $500 million has a maturity of four years, while the second has seven years. The coupon yield will be 6.7% and 6.95% per annum, respectively.
The total book of applications for the tranches amounted to $5.5 billion — the largest volume for Uzbek issuers since the first issuance of sovereign bonds in 2019. Another issuance of NMGC eurobonds worth $500 million is planned for 2025.
Previously, Spot reported that copper product manufacturers might be granted a discount on raw materials from AGMK.