Uzbekistan has announced a $2.6 billion initiative to enhance its mineral resources, focusing on critical minerals. The plan, unveiled by President Shavkat Mirziyoyev, will develop 76 projects over three years and create technology hubs for training specialists. This strategy aims to increase local manufacturing capabilities and reduce reliance on countries like China, while aligning with U.S. efforts to access vital minerals globally.

Uzbekistan has initiated a substantial $2.6 billion project aimed at developing its mineral resources, particularly in response to increasing demand from the United States. This initiative, announced on March 7 by President Shavkat Mirziyoyev, encompasses a three-year plan to extract critical minerals such as tungsten, lithium, titanium, and vanadium, many of which remain untapped due to inadequate investment.

The initiative encompasses the development of 76 projects involving 28 different minerals. President Mirziyoyev emphasized that the primary objectives include utilizing modern extraction technologies to obtain valuable materials from ore, enhancing the purity of minerals, and creating high-value-added products.

To facilitate this initiative, funding will be allocated for constructing the requisite infrastructure and capacity to implement advanced mining technologies. Technology hubs will be established in the Tashkent and Samarkand regions, aimed at training specialists and promoting best practices in mining operations.

Remarkably, the strategy will enable Uzbekistan to optimize its mineral wealth while decreasing reliance on significant players such as China, thus fostering local manufacturing capabilities. This plan also aligns with U.S. interests in enhancing access to critical minerals globally, as highlighted by Secretary of State Marco Rubio’s comments on exploring lucrative investment opportunities in this sector.

High-level discussions have already been undertaken with Uzbek officials, leading to a memorandum of understanding signed in September 2024. This agreement is expected to significantly bolster collaboration on critical mineral extraction between the United States and Uzbekistan, as stated by the Uzbek Ministry of Mining Industry and Geology.

In conclusion, Uzbekistan’s $2.6 billion initiative presents a significant opportunity to tap into its rich mineral resources while simultaneously responding to global demand for critical minerals. The establishment of advanced training centers and infrastructure aims to enhance local capabilities in the mining sector, reduce dependency on foreign suppliers, and promote economic development. Furthermore, this strategic move coincides with the growing U.S. interest in securing access to essential minerals.

Original Source: www.mining.com

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