The Central Asian country holds vast reserves of critical minerals and is among the leading gold, silver, and copper producers.
Uzbekistan seeks to expand its mining and mineral sector. On Monday, President Shavkat Mirziyoyev reviewed the progress the mining and metallurgical industry has made in the last few years and outlined the plans for 2025. According to the Uzbek government, production in the sector has grown 1.5 times over the past seven years. In addition, the industry has attracted $9.5 billion in investments since 2020, which enabled the launch of 15 major projects. To continue this development, the Central Asian country aims to attract $1 billion in additional investments next year. However, Mirziyoyev stressed the need for large-scale transformations in production facilities to enhance their competitiveness in global markets.
According to the U.S. Geological Survey (PDF), Uzbekistan is the world’s fourth-largest producer of rhenium, a transition metal essential for manufacturing superalloys. The country is also a major global producer of gold, cadmium, molybdenum, and uranium while boasting substantial reserves of critical minerals like copper, silver, tungsten, and zinc. Additionally, Uzbekistan aims to expand its production of rare earth elements, vital for technologies such as permanent magnets.
In September, the United States inked a Memorandum of Understanding with the country to intensify cooperation in critical minerals. In September, Germany followed suit; Chancellor Olaf Scholz met with President Mirziyoyev and agreed to strengthen cooperation on critical raw materials, including mining and processing.
Photo: iStock/Oleksii Liskonih