On February 1, 2024, President Shavkat Mirziyoyev of Uzbekistan took a step towards the economic transformation of the country by delving into a comprehensive presentation on the measures for the development of metallurgical enterprises. The focus was primarily on the Navoi Mining and Metallurgical Combine, Almalyk Mining and Metallurgical Combine, Metallurgical Combine of Uzbekistan, and Navoiyuran state enterprise, governmental portal of Uzbekistan reported.
Investment and Impressive Growth
Over the recent years, these key enterprises have witnessed a substantial infusion of funds, with a staggering $7.4 bn investment. The results have been remarkable, as gold production surged by 23%, copper by 41%, and silver by an impressive 60%. This surge can be attributed to the development of new mines at the Navoi combine and the commissioning of three new factories. Additionally, production gains were noted in Ozmetkombinat and Navoiyuran.
Economic Impact
The significance of these enterprises has burgeoned over the last six years, with their share in the total industry increasing from 10% to 17%. Equally noteworthy is their contribution to budget revenues, climbing from 11% to a substantial 25%. These statistics underscore the pivotal role these metallurgical giants play in driving economic growth and generating government revenues.
President's Vision for 2030
During the presentation, the President underscored the imperative of embracing digital transformation in these enterprises. Foreign experts have been enlisted to aid in this technological shift, emphasizing the incorporation of "green" technologies.
To bolster efficiency, the President outlined key initiatives, urging a focus on attracting investments and accelerating new projects. Clear directives were issued for cost reduction through the optimization of operational expenses and energy consumption. Recognizing the importance of human capital, there was an emphasis on increasing labor productivity in factories. Furthermore, the introduction of performance indicators into the activities of managers and specialists aims to enhance accountability and drive results.
Navoi Mining and Metallurgical Company (NMMC)
Navoi Mining and Metallurgical Company ranks among the top ten global companies engaged in gold production. Functioning as an industrial cluster, NMMC has successfully mastered the entire production cycle, encompassing geological exploration of subsoil reserves, ore mining and processing, and the attainment of finished products. This modern enterprise boasts cutting-edge mining, transport, and technological equipment, along with mines and plants that are outfitted with advanced technologies.
NMMC has attained outstanding accomplishments in 2023, reinforcing its status as a significant contributor to Uzbekistan's mining and metallurgical industry, according to reports from NMMC. The company disclosed that it achieved a noteworthy production output valued at an impressive UZS 67.5 trillion ($5.4 bn), reflecting a remarkable growth rate of 103.8% compared to the preceding year.
Almalyk Mining and Metallurgical Complex (AMMC)
AMMC in Uzbekistan has been a stalwart in the nation's economic landscape for 70 years. Rooted in a region historically specialized in mining, the AMMC has grown into one of the largest industrial enterprises in the country. With over 36,000 miners representing more than 40 nationalities, the AMMC plays a pivotal role in mining copper-molybdenum, lead-zinc, gold, and silver across various regions. Now, the complex is undergoing a comprehensive modernization program, with a $300 mn investment, aimed at increasing production capacities and implementing international best practices.
The expected outcomes include significant boosts in copper and zinc production, a doubling of sulfuric acid output, and substantial contributions to both revenues and the state budget. As seven investment projects unfold, exploring new deposits, AMMC remains committed to social responsibility, employee engagement, and efficient production practices.
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