Tashkent, Uzbekistan (UzDaily.com) — In 2024, the Navoi Mining and Metallurgical Company (NGMK) reached a historic milestone by producing more than 3 million ounces of gold for the first time. This was announced by Yevgeniy Antonov, First Deputy General Director and Chief Transformation Officer of NGMK, during the Tashkent International Investment Forum.

“Last year, we crossed a significant threshold — our gold output reached 3.1 million ounces. That’s a 30% increase compared to seven years ago. Our resource base is among the largest in the world, at nearly 150 million ounces, ensuring at least another 50 years of operations,” Antonov stated.

He also noted that in 2023, NGMK recorded a revenue high of US$7.4 billion.

“We are operating with strong efficiency — our EBITDA margin exceeds 60%. Moreover, we are among the lowest-cost gold producers globally. NGMK is a fully integrated operation with all production processes located in Uzbekistan. We remain the country’s largest taxpayer, a major employer, and contribute 6.5% to the national GDP,” he emphasized.

Antonov also highlighted the company’s commitment to sustainability, stressing that efficient production must go hand-in-hand with environmental responsibility.

“We are committed to sustainable gold production. Environmental stewardship is one of our priorities. We are actively developing renewable energy projects, and by the end of this year, over 20% of our energy consumption will come from green sources,” he said.