Uzbekistan may sell 10-15% stake in Navoi mining giant in 2024

Reuters | September 29, 2021 | 7:34 am Asia Gold Uranium

Uzbekistan starts shipping copper to Europe bypassing Russia

Image of the Muruntau Mine in Uzbekistan, the 2nd largest gold mine in the world.

Uzbekistan may sell a 10-15% stake in uranium and gold miner Navoi Mining and Metallurgical Combine in 2024, deputy prime minister Jamshid Kucharov told Reuters on Wednesday.

“There is no concrete plan yet, but we may come to it in 2024,” he said, adding that the company would first transform its structure and accounts in line with international standards.

The Navoi mining conglomerate is one of the Central Asian nation’s biggest industrial enterprises. The government earlier said it was slated for privatisation but has until now given no details of the plan.

(By Mukhammadsharif Mamatkulov and Olzhas Auyezov; Editing by Kirsten Donovan)