Uzbek Mining Sector Attracts US$10 Billion in Investments

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan is emerging as one of the most attractive destinations for mining investment in Eurasia, according to former Uzbek Foreign Minister Vladimir Norov on LinkedIn.

Over the past nine years, approximately US$10 billion in foreign investment has been attracted to the country’s mineral and metallurgical sector, reflecting growing confidence from international partners in Uzbekistan’s resource base and ongoing industrial reforms.

The country is gradually transforming the sector from basic extraction to advanced processing, value-added production chains, and export-oriented manufacturing. Currently, 65 private enterprises operate in the industry, highlighting the increasing role of private capital and foreign partnerships.

A significant milestone was the launch of the third copper smelting plant at the Almalyk Mining and Metallurgical Complex (AGMK), valued at US$2.7 billion, which significantly expands copper processing capacity and strengthens Uzbekistan’s industrial base, Norov noted.

Uzbekistan possesses substantial reserves of strategic and critical minerals. Total gold reserves are estimated at 5,300–6,000 tons, with the Muruntau deposit ranking among the world’s largest. Copper reserves total around 45–50 million tons of ore, primarily in the Almalyk district, operated by AGMK. Uranium reserves are 130–140 thousand tons, placing the country among the top five global producers, mainly extracted by Navoi GMK.

Silver is mostly a byproduct of gold and copper, with reserves of 10–12 thousand tons. Strategic metals such as tungsten and molybdenum, essential for machinery and high-tech industries, amount to 70–80 thousand tons and 60 thousand tons, respectively. Additionally, Uzbekistan has significant lithium, vanadium, and rare earth element deposits critical for clean energy and future technology industries.

Government data indicate that the total value of Uzbekistan’s mineral resources exceeds US$3 trillion, with over 2,700 identified deposits, about 900 of which are actively developed. Leveraging its rich resource base, expanding processing capacity, and reform-oriented investment climate, Uzbekistan positions itself as a regional hub for mining, metallurgical, and industrial processing in Central Asia.

For international investors seeking long-term opportunities in the mineral sector, Uzbekistan is a market to watch closely, Norov concluded.