Tashkent, Uzbekistan (UzDaily.com) — The Navoi Mining and Metallurgical Combinat (NGMK) increased its gold production by 7% in the first half of 2024 compared to the same period in 2023, reaching 1.517 million ounces, according to the company's press service.

The NGMK confirmed that the entire volume produced was sold.

During the reporting period, the average sale price of gold was US$2,206 per ounce, reflecting a 14% increase compared to the same period last year.

The company also reported that the all-in sustaining cost (AISC) of producing one ounce of gold rose by 12%, amounting to US$907.

NGMK's revenue for the first half of 2024 reached approximately US$3.35 billion, a 21% increase compared to the same period in 2023.

EBITDA for the same period was more than US$1.98 billion, which is 24% higher than the corresponding period of the previous year.

The company's net profit for the first six months of 2024 totaled US$882 million, up 14% from the same period in 2023.

Capital expenditures were reduced by 12%, amounting to US$325 million for the reporting period.

Additionally, NGMK's net debt as of the end of the first half of 2024 was US$1.72 billion, marking a 2% decrease compared to the same period last year.

NGMK is the fourth-largest gold producer in the world and the largest gold mining company in Central Asia, operating 12 large mining enterprises, seven hydrometallurgical plants, and two heap leaching facilities.