On April 29, President Shavkat Mirziyoyev chaired a meeting to discuss tasks related to geology and the mining-metallurgical industry.
The domestic geological sector receives an annual allocation of one trillion Uzbekistani som. As a result of targeted programs implemented last year, the production volume in the mining industry reached nearly 11 billion US dollars. However, the majority of this volume is attributed to precious and non-ferrous metals, despite the vast untapped potential for critical industrial minerals. Specifically, our country has identified 32 types of such valuable minerals.
In connection with this, during a presentation on January 15, the head of state provided instructions to utilize opportunities in this field. Today’s meeting covered the measures, plans, and proposals being implemented.
The world is witnessing dynamic technological advancements. There is a growing demand for rare earth metals in the electric vehicle industry, green energy, and electrical engineering. Consequently, prices for molybdenum, tellurium, selenium, and graphite have significantly risen in recent years on the global market.
The President emphasized the emerging prospects. The need to expand the exploration of existing deposits and explore new critical raw material sources was underscored.
Currently, our country extracts six types of such raw materials. Additionally, there is potential to produce high-value-added products from platinum, indium, vanadium, and minerals containing tungsten, molybdenum, rhenium, zinc, and manganese. For instance, production in previously nonexistent powder metallurgy could reach 300 million dollars annually, and equipment and components could generate 100 million dollars per year.
Recently, an agreement was reached with the European Union regarding critical raw materials, providing broad access to this significant market.
Considering this, responsible parties have been tasked with developing a program for prospective projects related to rare earth metals, involving foreign experts and investors, with a budget of 500 million dollars. Emphasizing the need for a scientific approach, a project office will be established, and leading institutes and research centres will be engaged.
During the meeting, discussions also centred on increasing the extraction of precious metals at the Navoi Mining and Metallurgical Combine.
Officials reported on opportunities for further increasing both reserves and gold production volumes.
The President instructed a 10-15% reduction in production costs at the combine, expansion of industrial cooperation, and localization efforts. Additionally, the establishment of an Advanced Technology Research Center for Precious Metals was prioritized.
