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About us

State-owned Enterprise "Navoiyuran" was established in January 2022 as a result of the reform of JSC "Navoiy MMC".

Contact

  • 210100, Inspektorlar 7, Navoiy city, Navoiy region, Republic of Uzbekistan
  • info@navoiyuran.uz
  • Office working time: Monday - Friday 08:00 - 17:00 Saturday - Sunday: Closed

IFRS financial statements of the SOE “Navoiyuran” have received a positive conclusion from the “Big Four” auditors

Persuant to the Decree of the President of the Republic of Uzbekistan PD-319 dated 14 July 2022 “On measures of increaing the uranium production and processing volumes in SOE “Navoiyuran”  during 2022-2030 and its transformation”  a large scale transformation processes has been started.  

For the information:

to comply the enterprise operations with international standards aiming the implementation of ESG principles ;

to implement “SCADA Dashboard” analytic system for digitalization of production processes, finance, accounting, warehouse, HR and other processes  at the enterprise and resource management system“ERP”;

to implement international and contemporary human resources (HR) management system;

to conduct assessment of uranium reserves under requirements of Australian JORC code;

to convert Financial statements to International Financial Reporting System (IFRS), carrying out of their audit by international auditing organizations and arrangement of other measures are defined.   

For the fulfilment of the tasks set above, the enterprise financial statements for 2022 – 2023 has been prepared on the basis of IFRS standards of “First time adoption”.

Based on the requirements of International Financial Reporting Standards :

– The main deposits (17) uranium reserves under the balance of the enterprise were assessed by “SRK Consulting” International Company corresponding the Australian JORC code requirements and the volumes of reserves announced
72 thousand tons;

– The “Fair Value” of long term actives of the enterprise has been confirmed and their value as of the end of 2023 made approximately 6 trillion UZS.

In accordance with IFRS standards, the company’s net profit for 2023 has been confirmed to be 2.9 trillion UZS.

 The financial statements for 2022-2023 prepared by SOE “Navoiyuran” specialists under the IFRS standards has been audited by “Deloitte” auditing organization which is recognized as one of “Big Four” audit organization and the statements were issued  positive conclusion.

The achieved positive conclusion of the “Big Four” audit organizations means that the enterprise’s accounting system & statements and financial system is set up correctly, the prepared financial statements are trustworthy. It also facilitates to attract funds to the enterprise’s investment projects without state guarantees and on the basis of these reports.

Following the information provided by enterprise Project office, the next stage of transformation processes is achievement of credit rating of Fitch Ratings credit agency.

As per the Presidential decree, it is scheduled SOE “Navoiyuran”  to receive a credit rating from one of the international rating agencies in October 2024.

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