NMMC Receives ESG Entity Rating from Sustainable Fitch

(MENAFN- Montfort Communications) Navoi, Uzbekistan – February 6, 2025 – Navoi mining & Metallurgical Company (NMMC), the world’s fourth largest gold producer, today announces the receipt of its debut 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, where 1 represents low risk and 5 represents high risk), with an overall entity score of 51 out of 100.

The rating was assigned following a comprehensive assessment of NMMC’s sustainability strategy and initiatives, corporate governance practices, environmental performance, and corporate social responsibility programs.

NMMC’s environmental and social performance components received a favourable rating of “3” reflecting the absence of material environmental incidents, robust internal policies on emissions and water management, a low gender pay gap. The Company’s corporate governance was rated at “2”, recognizing strengths such as adherence to international financial reporting standards, systematic internal audits, and a structured risk management approach.

NMMC’s overall ESG rating of “3” is in line with global mining industry peers, acknowledging the specifics of the sector - inherent environmental impact, high energy and water consumption, greenhouse gas emissions, and industrial waste generation. Notably, NMMC is the first company in Uzbekistan’s mining sector to receive a public ESG rating, underscoring its industry leadership and commitment to transparency and adherence to international sustainability principles.

“Sustainability is a fundamental pillar of our business strategy and is essential for achieving our corporate objectives, strengthening investor confidence, and ensuring long-term growth. The implementation of ESG principles is one of the key objectives of the large-scale transformation program currently underway at NMMC. The presidential declaration of 2025 as the “Year of Environmental Protection and the Green Economy” in Uzbekistan reinforces our commitment to a responsible and systematic approach to advancing NMMC’s sustainability goals in accordance with the national strategy “Uzbekistan-2030,” said Eugene Antonov, First Deputy CEO and Head of Transformation at NMMC.

“The ESG rating assigned to NMMC validates our ongoing efforts to integrate sustainability principles into our operations. At the same time, it sets out a benchmark for further enhancing our environmental, social, and governance performance in line with global best practices,” added Boris Samoylenko, Head of ESG at NMMC.

MENAFN09022025006995016048ID1109185441