Uzbek Gold Giant to Solidify Global Rank With 30% Output Boost

Uzbekistan’s Navoi Mining & Metallurgical Co., which is considering a potential London listing, plans to boost output by 30% over the next five years, strengthening its position among the world’s leading gold producers.

The planned increase to about 4 million ounces by 2030 stems from a development program launched in 2025, which includes annual investments of as much as $600 million, the company’s press service said in an emailed statement.

NMMC, as the state-held company is also known, met its previous output target last year with production of 3.1 million ounces, surpassing Russia’s Polyus PJSC to become the world’s ...