Navoi Mining & Metallurgical Company (NMMC), the world’s fourth-largest gold producer, has received its first Environmental, Social, and Governance (ESG) rating from Sustainable Fitch. The company was assigned a rating of ‘3’ on a 1 to 5 scale (where 1 represents low risk and 5 represents high risk) and an overall ESG score of 51 out of 100.
The rating reflects a detailed assessment of NMMC’s sustainability initiatives, corporate governance, environmental performance, and social responsibility programs. The company’s environmental and social performance received a ‘3’ rating, acknowledging strong policies on emissions and water management, absence of major environmental incidents, and a low gender pay gap. Meanwhile, its corporate governance scored a ‘2’, recognizing adherence to international financial reporting standards, systematic internal audits, and structured risk management.
NMMC’s ESG rating is consistent with global mining industry peers, reflecting the sector’s inherent environmental challenges, including high energy and water consumption, greenhouse gas emissions, and industrial waste generation. Importantly, NMMC is the first company in Uzbekistan’s mining sector to receive a public ESG rating, highlighting its commitment to transparency and sustainability leadership.
“Sustainability is a key pillar of our business strategy and crucial for long-term growth and investor confidence,” stated Eugene Antonov, First Deputy CEO and Head of Transformation at NMMC. He emphasized that the company’s ESG principles are central to its transformation program, aligning with Uzbekistan’s 2025 ‘Year of Environmental Protection and the Green Economy’ initiative and the national ‘Uzbekistan-2030’ strategy.
Boris Samoylenko, Head of ESG at NMMC, reinforced that the rating validates NMMC’s ongoing sustainability efforts and serves as a benchmark for further improvements in line with global best practices.
