Navoi Mining and Metallurgical Company (NMMC), the world’s fourth-largest gold producer, has received its first Environmental, Social, and Governance (ESG) Entity rating from Sustainable Fitch. The Company has been assigned a rating of “3” (on a scale from 1 to 5, with 1 representing low risk and 5 representing high risk), with an overall entity score of 51 out of 100. This rating was given after a thorough evaluation of NMMC’s sustainability strategy and initiatives, corporate governance practices, environmental performance, and corporate social responsibility programs. NMMC’s environmental and social performance received a positive rating of “3”, indicating no significant environmental incidents, strong internal policies on emissions and water management, and a small gender pay gap. The Company’s corporate governance was rated at “2”, recognizing its compliance with international financial reporting standards, regular internal audits, and a structured risk management approach. NMMC’s overall ESG rating of “3” is in line with other mining companies globally, considering the industry’s inherent environmental impact, high energy and water consumption, greenhouse gas emissions, and industrial waste generation. NMMC is the first mining company in Uzbekistan to receive a public ESG rating, demonstrating its leadership in the industry and commitment to transparency and adherence to international sustainability principles. According to Eugene Antonov, First Deputy CEO and Head of Transformation at NMMC, sustainability is a crucial aspect of the company’s business strategy and essential for achieving its corporate goals, building investor trust, and ensuring long-term growth. The implementation of ESG principles is a key objective of NMMC’s ongoing transformation program. The recent declaration of 2025 as the “Year of Environmental Protection and the Green Economy” in Uzbekistan further emphasizes NMMC’s dedication to a responsible and systematic approach to advancing its sustainability goals in alignment with the national strategy “Uzbekistan-2030.” Boris Samoylenko, Head of ESG at NMMC, adds that the ESG rating assigned to the company validates its efforts to integrate sustainability principles into its operations and sets a benchmark for continuous improvement in environmental, social, and governance performance following global best practices. Nasiba Ziyodullayeva, UzA.
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