Uzbekistan Eyes Critical Raw Materials Cooperation with US and UK
President of Uzbekistan Shavkat Mirziyoyev recently addressed attendees at the III Tashkent International Investment Forum, highlighting key areas for enhancing cooperation between Uzbekistan and investors. One of the priority areas mentioned by Mirziyoyev is the mining sector.
Uzbekistan is known for its vast reserves of mineral resources and critical metals, including gold, copper, tungsten, silver, and uranium. The country also has deposits of over 30 rare metals such as lithium, magnesium, molybdenum, germanium, vanadium, and indium. Mirziyoyev stressed the importance of these resources and emphasized the potential for collaboration in this area.
In April, Uzbekistan established strategic cooperation with the European Union in the field of critical raw materials. Similar agreements are being pursued with the United States of America and Great Britain. Mirziyoyev announced plans to update the country’s laws on subsoil in line with international standards, with assistance from the European Bank for Reconstruction and Development.
The President extended an invitation to leading companies to invest in Uzbekistan and participate in projects for deep processing of strategic raw materials, creating a value chain that benefits both parties. Just days before his address at the Forum, Mirziyoyev emphasized the importance of exploring new deposits of critical raw materials and commissioned the development of mining projects for rare earth metals totaling $500 million.
Overall, Uzbekistan’s focus on the mining sector and partnerships with international investors highlight the country’s commitment to sustainable economic growth and development in key industries.
