{"id":3786,"date":"2026-10-09T20:24:16","date_gmt":"2026-10-09T18:24:16","guid":{"rendered":"https:\/\/energianucleare.eu\/uzbekistan-uranium-and-gold-miners-eye-london-stock-exchange-listing\/"},"modified":"2026-10-09T20:24:16","modified_gmt":"2026-10-09T18:24:16","slug":"uzbekistan-uranium-and-gold-miners-eye-london-stock-exchange-listing","status":"publish","type":"post","link":"https:\/\/energianucleare.eu\/en\/uzbekistan-uranium-and-gold-miners-eye-london-stock-exchange-listing\/","title":{"rendered":"Uzbekistan: uranium and gold miners eye London Stock Exchange listing"},"content":{"rendered":"<p>Uzbekistan&#8217;s state-owned uranium producer <strong>Navoiyuran<\/strong> and mining heavyweight <strong>Navoi Mining &amp; Metallurgical Company (NMMC)<\/strong> are exploring a listing on the London Stock Exchange. The move comes after Uzbekistan completed its first international IPO in May 2026, with national fund <strong>UzNIF<\/strong> raising $603.6 million through a dual listing on the London Stock Exchange and the Tashkent Stock Exchange.<\/p>\n<p>The UzNIF deal set an important precedent. The fund, managed by <strong>Franklin Templeton<\/strong>, holds stakes of between 25 and 40 percent in 13 Uzbek state-owned companies spanning energy services to telecommunications. Shares were priced at $25 and opened higher on the first day of trading. Cornerstone investors included BlackRock, Franklin Resources, Red Wheel and the Allan &amp; Gill Gray Foundation, which together subscribed to approximately $300 million worth of shares. The transaction valued the fund at $1.95 billion.<\/p>\n<p>Attention is now turning to NMMC, one of the world&#8217;s largest gold producers with 3.2 million ounces produced in 2025. The company has selected <strong>Citigroup, Morgan Stanley and JPMorgan Chase<\/strong> to explore a potential dual listing in London and Tashkent, targeting a valuation of around $20 billion including debt. The deal would involve the sale of a 10 to 15 percent government stake. <strong>Rothschild &amp; Co.<\/strong> is also working alongside the banks as adviser. As for <strong>Navoiyuran<\/strong>, the uranium producer is explicitly named in a presidential decree from April 2025 as a candidate for upcoming listings, though the timeline has yet to be finalised.<\/p>\n<p>The broader context is a privatisation strategy launched by President <strong>Shavkat Mirziyoyev<\/strong>, through a decree identifying twelve state enterprises to be brought to market between 2025 and 2028. The goal is to attract foreign capital and develop a more mature domestic capital market. The first London IPO was designed to do precisely that: establish a valuation benchmark for all subsequent offerings. Uzbekistan holds some of the most significant uranium reserves in Central Asia, and the prospect of a Navoiyuran listing on international markets carries real weight in the global nuclear energy sector, where fuel supply security has moved back to the top of government agendas.<\/p>\n<p>Should NMMC and Navoiyuran proceed, London would cement its position as the go-to venue for Central Asian natural resources. For the uranium market, a public listing of the Uzbek producer would mean greater transparency on volumes, extraction costs and capacity expansion prospects \u2014 data that is currently only partially available. A clear sign that the nuclear investment cycle extends well beyond reactors, reaching deep into the upstream supply chain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following Uzbekistan&#8217;s first international IPO completed in May 2026, uranium producer Navoiyuran and mining giant Navoi Mining &#038; Metallurgical Co. are exploring a listing on the London Stock Exchange. A concrete signal of openness to international markets from a country rich in strategic resources.<\/p>\n","protected":false},"author":25,"featured_media":3783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-3786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Uzbekistan: uranium and gold miners eye London Stock Exchange listing - Energia nucleare<\/title>\n<meta name=\"description\" content=\"After UzNIF&#039;s London IPO, Uzbekistan&#039;s state uranium and gold miners explore listings on the London Stock Exchange.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energianucleare.eu\/en\/uzbekistan-uranium-and-gold-miners-eye-london-stock-exchange-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uzbekistan: uranium and gold miners eye London Stock Exchange listing - 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