Navoi Mining and Metallurgical Company (NMMC) is set to expand the processing capacity of its Hydrometallurgical Plant No. 7 (HMP-7), the largest facility dedicated to processing technogenic waste. The expansion project aims to increase the plant's annual throughput from 10mn tonnes to 25mn tonnes, marking a substantial growth in its operational capabilities.
The expansion includes the construction of four new mills, which will add 10mn tonnes of annual processing capacity. Once completed, the plant will have a total of ten mills, further enhancing its efficiency in handling waste materials.
In 2023, HMP-7 successfully processed 15.8mn tonnes of waste, with plans to increase this figure to 16mn tonnes in 2024. This expansion will help NMMC eliminate costs related to mining, sorting, and transporting ore, significantly reducing production costs while boosting overall efficiency.
This project also aligns with NMMC's commitment to sustainability, as it forms a key part of the company's Environmental, Social, and Governance (ESG) strategy. By focusing on the processing of technogenic waste, NMMC aims to minimize the negative environmental impact of its operations and contribute to a more sustainable future.
The expansion is being carried out using NMMC’s in-house expertise and resources, with equipment and spare parts being manufactured at the Navoi Machine-Building Plant and Zarafshan Repair-Mechanical Plant. The construction is overseen by the Zarafshan Construction Directorate.
Earlier, Fitch Ratings upgraded NMMC standalone credit profile from ‘bb’ to ‘bb+’ and assigned a final senior unsecured rating of 'BB-' with a Recovery Rating of 'RR4' to its debut notes offering, which consists of two tranches: $500mn in notes due 2028 and $500mn in notes due 2031, both ranking pari passu with NMMC's existing and future senior unsecured debt.
During the first nine months of 2024, NMMC remained Uzbekistan's top taxpayer, contributing a substantial UZS 18.656 trillion ($1.5bn). Its role in gold production further underscores NMMC’s key position within the country’s economy.
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