The first gold bullion weighting 11.820 kilograms was produced at Hydrometallurgical Plant No. 2 in the Kyzyl Kum desert, Uzbekistan, on July 21, 1969. Gold ore was extracted at Eurasia's largest gold deposit at Muruntau, where the gold was believed to be the least costly in the Soviet Union. And despite recent price fluctuations, gold production in Uzbekistan is still profitable. Over the past five years, gold output at the Navoi mining combine has grown by 1.4 times.
Navoi Mining & Metallurgy Combinat is a state owned company having, under Uzbekistan law, the right to full economic independence. The far-sighted economic policy of Uzbekistan's President Islam Karimov is based on the state's strong leverage of the economy, and has contributed to the gigantic ore-mining conglomerate's success. Navoi now produces gold, uranium, phosphorites, marble and other minerals. That economic policy has also ensured steady economic growth of the Central-Asian nation.
Zarafshan, where the mine is located, initially relied on infrastructure created by the Soviet Ministry of Medium Machine-Building for uranium production, which began around 100 kilometres north. The target accelerated investment method was tested there and showed its efficiency. The combine has always boasted a high level of management and engineering skills. To reduce gold production costs, the company has been using technologies surpassing world standards. The gold recovery coefficiency at Zarafshan is 94%, higher than that attained by its rivals. As for production costs, they are low enough to let the gold producer make profit and invest money in the development of new fields and technologies.
What was the impact of transition to a market on the combine? It has confidently joined the world's mining majors and its production volumes and sales have been steadily growing. Feasibility schemes have been worked up for the development of open pits at Muruntau until 2035. Gold produced there will undoubtedly remain competitive and profitable for decades.
Navoi Mining & Metallurgy Combinat "Kyzylkumredmetzoloto" State Concern Republic of Uzbekistan