Uzbekistan's Navoi Mining and Metallurgical Company (NMMC), one of the largest gold producers, has reported substantial production achievements for the first quarter of 2024. Plant's press service informed that the NMMC recorded the production of goods totaling UZS 19.5 trillion ($1.5 bn) during this period.
The implementation of the investment program has been a key driver behind these accomplishments, with funds amounting to $220.1 mn disbursed. Moreover, the expansion efforts have led to the creation of 126 new employment opportunities, contributing to the region's economic growth and workforce development.
As part of the localization program, the NMMC has successfully produced goods valued at UZS 236 bn ($19 mn). Additionally, through intersectoral industrial cooperation initiatives, the plant has purchased products worth over UZS 1.4 trillion ($111 mn), fostering collaboration across various sectors and enhancing the local supply chain.
One of the notable achievements highlighted by the NMMC is the comprehensive cost optimization measures undertaken, resulting in a significant reduction in production costs. The plant managed to cut production expenses by UZS 557.2 bn ($44 mn), demonstrating its commitment to operational efficiency and financial sustainability.
Earlier Daryo reported that NMMC allocated 2% of shares to UzSAMA as part of privatization efforts.
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