Uzbekistan and Azerbaijan agreed on projects for gold, silver, and rare earth metals

Uzbekistan and Azerbaijan have reached agreements on joint projects in gold, silver, and rare earth metal mining. Azerbaijani companies intend to participate in the development of gold and other deposits, geological exploration, processing of silver-bearing ores, and rare earth metal mining in Uzbekistan. These initiatives are included in a package of agreements signed with the Azerbaijani side, the press service of the Ministry of Investment, Industry, and Trade told Gazeta.

AzerGold plans to participate in the development of the Akba gold deposit, located in the Kitab district of the Kashkadarya region. A project has also been signed with AzerGold to conduct geological exploration at promising sites in the Nurata district of the Navoi region. In 2025, Uzbekgeologorazvedka announced that over 13 tons of industrial gold reserves at the Akba deposit would be registered on the state register. The company estimates that further exploration at this site could reveal up to 50 tons of additional gold.

SOCAR is conducting exploration work at the Terengkuduk, Boyterak, Birkori, Kharoy, Kulboy, and Karakalpak blocks in the Muynak and Kungrad districts of Karakalpakstan.

In the Pap district of the Namangan region, the Sur Gold and Silver Project plans to build a processing plant for silver-bearing ore.

Another project involves the extraction of rare earth metals in the Navoi, Tashkent, and Jizzakh regions. NEQSOL Holding will be the Azerbaijani partner. In June 2026, NEQSOL Holding signed an agreement with the Ministry of Mining and Geology of Uzbekistan for the joint development of critical minerals, including strategic raw materials such as titanium. The document was signed at the Tashkent International Investment Forum and provides for the identification of priority areas, the application of modern technologies, and international standards in the implementation of projects in the critical minerals sector.

Furthermore, Baku Oltin plans to establish jewelry production in Fergana. A similar project, the Sur Gold and Silver Project, is planned for the Almazar district of Tashkent.

Gazeta previously reported that Hong Kong has become the sixth-largest market for Uzbekistan, surpassing Turkey. Uzbek exports to this destination increased approximately 20-fold in the first half of the year, reaching $543.1 million. Jewelry companies such as Luxury Diamond, Goldwish, and Fatih Jewellery predominate among the largest suppliers, accounting for approximately 66% of Hong Kong's exports. According to the Ministry of Investment, Industry, and Trade, jewelry exports totaled $685 million from January to June, 2.8 times higher than the same period last year.

As Gazeta reported, SOCAR, together with Uzbekneftegaz, also intends to develop a network of gas stations throughout Uzbekistan. The presidents of Uzbekistan and Azerbaijan previously launched the construction of five gas stations.

The signed agreements also include projects for the production of dry construction mixes and gypsum board in the Kamashinsky district of the Kashkadarya region, the creation of a 1,000-hectare intensive orchard in the Turakurgan district of the Namangan region, and the development of infrastructure for the storage and processing of agricultural products.

GFF Langar plans to establish a cold storage facility and fruit processing facilities in the Turakurgan district. AXB-Fruits LLC will modernize a cold storage facility in the Kuva district of the Fergana region, and Gold Fresh Fruits will create an orchard in the Pap district of the Namangan region.

In the construction sector, TuranAZ plans to build the Baku City residential complex in the Davlatabad district of the Namangan region. Agalarov Development plans to build a multi-story residential complex in the Mirabad district of Tashkent, while Hidro İnşaat Servis is developing multi-story residential buildings in the Yunusabad district. Agalarov Development is also a partner in the Sea Breeze Uzbekistan international tourism center project in the Bostanlyk district of Tashkent region.

PASHA Holding plans to build a five-star The Ritz-Carlton hotel and Baku Tower apartments in the Chilanzar district of Tashkent.

In New Tashkent, the Azerbaijan State Committee for Urban Development and Architecture plans to create an "Azerbaijan" park.

The International Bank of Azerbaijan (ABB) will participate in the Davr Bank development project in Tashkent, acquiring a controlling stake.

In addition, Landau Education Group plans to establish a network of STEM schools named after Landau in the capital. The first project listed is located in the Mirabad district.