"Navoiuran" doubled its revenue and net profit in the first half of the year
In the first half of 2026, the revenue of SE "Navoiyuran" increased by 109.2% to 795 million dollars, and net profit — by 132% to 348 million dollars.
"Naviyuran" doubled revenue and net profit in the first half of the year
In the first half of 2026, the state enterprise "Naviyuran" increased its revenue by 109.2% compared to the same period last year, reaching 795 million US dollars. Net profit increased by 132% to reach 348 million dollars.
According to the company, these results were achieved due to higher sales volumes of natural uranium and an increase in the average selling price. The average selling price rose by 25% — from 68.71 to 86.06 dollars per pound of U3O8. A year earlier, six-month revenue stood at 380 million dollars, and net profit at 150 million dollars.
Gross profit for January–June increased by 93.2% — from 219 million to 423 million dollars, while operating profit rose by 118.3%, from 186 million to 406 million dollars. EBITDA grew by 113.8% to reach 477.2 million dollars compared to 223.2 million dollars in the first half of 2025. The EBITDA margin rose by 2.7 percentage points — from 56.5% to 59.2%.
Net cash flow from operating activities increased by 49.6% — from 191 million to 285 million dollars. Total Cash Costs (TCC) amounted to 14.7 dollars per pound of U3O8, while All-In Sustaining Costs (AISC) were 31.97 dollars.
Capital expenditures for the reporting period reached 267.4 million dollars. Of this amount, 141.2 million was directed toward mine development, 91.6 million toward the acquisition of fixed assets, and 34.6 million toward exploration and evaluation of deposits.
In April 2026, "Naviyuran" began commercial uranium mining at the Kizilkok deposit in the Navoiy region. This is the company's third-largest deposit, with a design capacity of 1,200 tons per year and an estimated operating life of 15 years. Mining is conducted using the in-situ leaching method with oxygen. The company expects that Kizilkok's share in total production will increase as operations expand.
Jamal Fayzullaev, Director General of "Naviyuran," reported that the development of the Arnasoy and Jhongeldi deposits is underway concurrently. "We will continue to expand our mineral resource base, invest in modern mining technologies, and implement new production projects," he said, citing the tasks set by the President, the "Uzbekistan — 2030" Strategy, and the state program to increase uranium mining and processing until 2030.
Going forward, the company intends to continue geological exploration and deposit development, including prospective sites, expand the use of in-situ leaching technologies, and develop cooperation with international industry partners.
"Naviyuran" ranks sixth in the world in uranium production. The company operates 43 uranium deposits, and its mineral resource base totals 151,100 tons of uranium, including about 96,600 tons of reserves according to JORC standards.