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State-owned enterprise Navoi MMC will be reformed

A decree of the President “On measures to reform the State Enterprise “Navoi Mining and Metallurgical Combine ”(No. PD-4629, 06.03.2020) was adopted. In accordance with the decree, the name of the state-owned enterprise Navoi MMC was changed to State-owned enterprise Navoiuran, an enterprise for the extraction and processing of natural uranium and rare-earth metals. Also, on the basis of part of the property of the SE Navoi MMC, the following will be established:

  • a manufacturing enterprise for the extraction and production of precious metals in the form of JSC Navoi MMC;
  • State institution “NMMC Fund”.

The founder of the State Institution “NMMC Fund” and the state enterprise “Navoiiyuran” is the Agency for Management of State Assets. The Ministry of Finance performs the functions of a shareholder (founder) in relation to the state share in the authorized capital of NMMC JSC. The transition of employees of the SE Navoi MMC to JSC NMMC and the State Institution Fund NMMC is carried out in accordance with article ( 98 of the Labor Code. At the same time, the transferred workers retain the current conditions of remuneration of labor, including established tariff categories and rates, bonuses, surcharges and allowances, material assistance, as well as district coefficients. Also, it is not allowed for 5 years to reduce the number of employees and change the profile of the social infrastructure facilities of the SE Navoi MMC transferred to the authority of the NMMC Fund. The resolution established the Commission for the integrated solution of labor issues and social protection of workers of the SE “Navoi MMC” and its main tasks are defined.


Source: Legal Information