Navoi Mining and Metallurgical Combine (NMMC) entered into a loan agreement with Mitsubishi UFJ Financial Group (MUFG), securing $150mn. The agreement, finalized in August, will provide financial support for the company's ongoing investment initiatives.
The loan is intended to fund various elements of NMMC’s investment programme. The primary uses include expanding processing capabilities, increasing production output, and developing new job opportunities through the exploration and development of mineral deposits. The funds will also be utilized for the construction of new production facilities and the modernization of existing infrastructure.
In July, NMMC was assigned a ‘BB-’ credit rating by S&P Global Ratings. The rating report identified the company's heavy reliance on the Muruntau deposit as a significant risk factor.
Mitsubishi UFJ Financial Group (MUFG) is a prominent financial institution based in Tokyo. Established over 360 years ago, MUFG operates around 2,000 branches in more than 40 countries. The financial group, with approximately 120,000 employees, provides a range of services including commercial and trust banking, securities, credit cards, consumer finance, asset management, and leasing.
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