Uzbek Gold Giant to Solidify Global Rank With 30% Output Boost

Oct. 7, 2025, 10:53 AM UTC

Uzbekistan’s Navoi Mining & Metallurgical Co., which is considering a potential London listing, plans to boost output by 30% over the next five years, strengthening its position among the world’s leading gold producers.

The planned increase to about 4 million ounces by 2030 stems from a development program launched in 2025, which includes annual investments of as much as $600 million, the company’s press service said in an emailed statement.

NMMC, as the state-held company is also known, met its previous output target last year with production of 3.1 million ounces, surpassing Russia’s Polyus PJSC to become the world’s ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.