Uzbekistan announced a $2.6 billion initiative to develop its substantial mineral resources, according to bne IntelliNews.
The plan, unveiled by President Shavkat Mirziyoyev on 7 March, aims to unlock the country’s untapped deposits of critical minerals such as tungsten, lithium, titanium, and vanadium over the next three years.
The initiative focuses on 76 projects targeting 28 critical minerals used in the production of durable goods, electronics, and high-tech products. A key aspect of the plan is the development of modern mining technologies to extract and refine minerals, increasing their purity and value.
Additionally, the initiative seeks to establish a local industrial base, enabling the production of finished goods like cars and electronics using domestically sourced minerals.
To support the efforts, Uzbekistan plans to fund geological prospecting to identify new mineral deposits and expand its resource base. Technology hubs will also be established in Tashkent and Samarkand to train specialists and promote best practices in mining and mineral processing.
The initiative aligns with global efforts, including those of the United Kingdom, to diversify supply chains for critical minerals and reduce reliance on dominant suppliers such as China. Uzbekistan’s lack of advanced technology and expertise presents an opportunity for international collaboration, particularly with countries like the UK, which have significant experience in mining and mineral processing.
Uzbekistan has already laid the groundwork for international cooperation through agreements such as the memorandum of understanding (MoU) signed with the United States in September 2024. The document serves as an important step in fostering dialogue on exploration, mining, and value-added product chain development. Similarly, Uzbekistan’s participation in the Minerals Security Partnership (MSP) highlights its growing role in the global critical minerals market.
For the UK, access to Uzbekistan’s mineral resources could enhance supply chain resilience and support the production of advanced technologies, including renewable energy systems and electric vehicles (EVs).
