The US is expanding cooperation in the field of critical minerals. What is Uzbekistan's role?
The technological development of global industry is increasing the demand for critical minerals. Technologies used in artificial intelligence systems, data centers, electric vehicle manufacturing, aviation, and green energy are directly dependent on these resources. Therefore, their extraction, processing, and supply have become an important direction of international economic cooperation.
The US is expanding cooperation in the field of critical minerals. What is Uzbekistan's role in this process?
During the C5+1 meetings in Samarkand, attended by US Secretary of State Marco Rubio, diversifying the supply of critical minerals, as well as expanding investment and technological cooperation, were among the main topics.
For Uzbekistan, these dialogues are of key importance in the deep processing of mineral resources and expanding the country's participation in international industrial chains. The country possesses significant mineral resources such as tungsten, molybdenum, lithium, graphite, and germanium, as well as a portfolio covering more than 100 projects in this direction.
The reforms carried out under the leadership of President of Uzbekistan Shavkat Mirziyoyev are aimed at directing this potential toward the production of high-value-added products. Attracting foreign investment and modern technologies, as well as expanding local processing capacities, are among the priority tasks in this regard.
The Technological Metals Plant (TMK) of Uzbekistan is conducting practical negotiations with international companies and financial institutions in these areas. In particular, opportunities for financing investment projects worth $4 billion 200 million with the US DFC corporation are being considered.
Prospects for the joint implementation of 5 projects with a total value of $1 billion 27 million with Metallica Commodities are being discussed. Meanwhile, cooperation opportunities on 6 projects worth $29 million 400 thousand are being explored with Vast Resources.
As part of the C5+1 meetings in Samarkand, TMK brought cooperation issues with more than 25 foreign companies and organizations to the agenda.
One of the directions discussed at these meetings was the extraction of valuable minerals and metals from industrial waste. This approach involves reintroducing useful components from waste back into the economic cycle.