Tashkent, Uzbekistan (UzDaily.uz) — State-owned enterprise Navoiyuran increased its revenue by 109.2% year on year in the first half of 2026 to US$795 million. Net profit rose by 132% to US$348 million, the company reported.
According to the company, the results were driven by higher sales volumes of natural uranium and an increase in the average selling price. The average price rose by 25%, from US$68.71 to US$86.06 per pound of U3O8. In the first half of 2025, revenue totalled US$380 million and net profit stood at US$150 million.
Gross profit for January–June increased by 93.2%, from US$219 million to US$423 million, while operating profit rose by 118.3%, from US$186 million to US$406 million. EBITDA grew by 113.8% to US$477.2 million, compared with US$223.2 million in the first half of 2025. The EBITDA margin increased by 2.7 percentage points, from 56.5% to 59.2%.
Net cash flow from operating activities rose by 49.6%, from US$191 million to US$285 million. Total cash costs (TCC) amounted to US$14.70 per pound of U3O8, while all-in sustaining costs (AISC) stood at US$31.97.
Capital expenditure during the reporting period totalled US$267.4 million. Of this amount, US$141.2 million was allocated to mine development, US$91.6 million to the acquisition of fixed assets, and US$34.6 million to geological exploration and deposit assessment.
In April 2026, Navoiyuran began commercial uranium production at the Kyzylkok deposit in Navoi Region. It is the company’s third-largest deposit, with a designed production capacity of 1,200 tonnes per year and an estimated operating life of 15 years. Uranium is extracted using the in-situ leaching method with oxygen. The company expects Kyzylkok’s share of total production to increase as development progresses.
Navoiyuran CEO Jamal Fayzullaev said the company was also developing the Arnasoy and Jongeldi deposits.
“We will continue to expand our mineral resource base, invest in modern mining technologies and implement new production projects,” he said, referring to the objectives set by the President, the Uzbekistan–2030 Strategy and the state programme to increase uranium production and processing by 2030.
The company plans to continue geological exploration and deposit development, including at prospective sites, expand the use of in-situ leaching technologies and strengthen cooperation with international industry partners.
Navoiyuran ranks sixth globally in uranium production. The company operates at 43 uranium deposits and has a mineral resource base of 151,100 tonnes of uranium, including approximately 96,600 tonnes of reserves under JORC standards.
