Uzbekistan’s Navoi Mining and Metallurgical Combine (NMMC) ranked fifth among the world's top gold producers in 1H23, according to Canadian trade media outlet Kitco.
The Uzbek giant produced 1.42mn ounces of gold during the six months, meaning output was up 2.1% y/y.
Topping the ranking was American Newmont (2.51mn ounces). Second was Canada’s Barrick (1.96mn ounces).
Last year, NMMC produced approximately 1.7mn ounces of the precious metal at its Muruntau deposit.
The total reserves of the mine are estimated at 150mn ounces. Muruntau, however, last year lost its recognition as the largest gold mining field in the world, giving way to Indonesia's Grasberg.
Uzbekistan's President Shavkat Mirziyoyev has previously noted plans under which, by 2030, 19 projects worth $3.8bn will be implemented at NMMC, with gold production to expand by one and a half times, to 155 tonnes per year.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Uzbekistan's Mirziyoyev heads to Minsk as Lukashenko widens his diplomatic circle
Shavkat Mirziyoyev, Uzbekistan's president, began a two-day official visit to Belarus on July 7 at the invitation of Alexander Lukashenko, in the latest sign of Minsk's push to broaden its ... more
Net income at Freedom Holding Corp more than doubles in fiscal 2026
Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more