At the “Uzbekistan Day” event, organized in Toronto, Canada, as part of the prestigious PDAC-2026 global mining and geological conference, Uzbekistan’s potential in critical minerals was showcased to an international audience.
During this event, held under the auspices of the Ministry of Mining Industry and Geology of the Republic of Uzbekistan, the country’s geological capabilities, investment potential, and an industrial model based on the complete “Mine-Metal-Market” value chain were presented to the global community.
The event was attended by the Ambassador Extraordinary and Plenipotentiary of Uzbekistan to the USA, representatives from the Ministry of Foreign Affairs, as well as the management, consultants, and international experts of the Uzbek Technological Metals Complex – the country’s first and only industrial operator focused on critical minerals, established at the initiative of President Shavkat Mirziyoyev.
“Uzbekistan Day” was met with great interest by representatives of the global mining and metallurgical industry. The event drew representatives from nearly 200 companies and institutions, including leadership from major firms such as Alpha Bronze, international engineering giant AtkinsRéalis, AGT Systems NA, aerogeophysical services leader Xcalibur, Speyside, Global Mining Capital Corp, and Freedom Capital Markets, as well as representatives from the US Geological Survey (USGS) and the European Commission’s critical raw materials policy division.
Scott Sutherland, Managing Director of the Society of Exploration Geophysicists:
“I participated in the Uzbekistan Day session at PDAC and was very impressed by the geological and mining potential presented by Uzbekistan. By the end of this year, the Society of Exploration Geophysicists plans to hold an international conference in Uzbekistan, specifically in Tashkent, dedicated to the mining industry.We are pleased with the fruitful cooperation we have established with the Government of Uzbekistan and intend to work even more actively in the country in the future, contributing to the realization of its resource potential and extensive opportunities.”
The event highlighted the large-scale reforms underway in our country, promising projects for developing new deposits and the deep processing of rare and technological metals, and initiatives aimed at expanding international cooperation.
Additionally, during the event, the Uzbek Technological Metals Complex signed a memorandum with the Canadian company OMAD International Inc. aimed at attracting investment and developing industrial cooperation.
Furthermore, a memorandum of cooperation was signed with Erdenes IT LLC, which entails the creation of technology parks, the implementation of joint research and development initiatives, and collaboration in mining, geology, and international marketing.
These agreements reflect a consistent strategic approach to the international promotion of the “Mine-Metal-Market” model, which aims to transform Uzbekistan’s geological potential into globally competitive industrial products with high added value and establish the country as a key link in the global critical minerals value chain.
Tag: Uzbekistan
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At PDAC’s “Uzbekistan Day,” the “Mine-Metal-Market” Model is Presented to the International Community
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Uzbekistan to Showcase Mining and Investment Opportunities at PDAC 2026 in Toronto
We look forward to seeing you at Uzbekistan Day!
As part of PDAC 2026 — one of the world’s most prestigious mining and geology conventions held in Toronto, Canada — the Ministry of Mining Industry and Geology of the Republic of Uzbekistan is organizing the “Uzbekistan Day” event.
The event will be attended by the Ambassador Extraordinary and Plenipotentiary of Uzbekistan to the United States, as well as representatives of the Ministry of Foreign Affairs, the Ministry of Investments, Industry and Trade, and leading national companies.
“Uzbekistan Day” serves as a key platform to present Uzbekistan’s geological potential, investment opportunities, and its integrated industrial model based on the full value chain under the “Mine–Metal–Market” principle.
📅 March 1, 2026
⏰ 08:00–12:00
📍 PDAC North Building, Meeting Room 202BWe also invite you to attend the “Uzbekistan Global Roundtable” session, held as part of the PDAC Global Roundtables organized by Canada’s Trade Commissioner Service (TCS).
📅 March 2, 2026
⏰ 14:30–16:00 (EST)
📍 MTCC, North Building, Room 104ADuring this session, participants will gain deeper insight into Uzbekistan’s investment potential in the technological metals sector and its new industrial model focused on value-added processing and downstream development.
Please note that seating is limited. To register, kindly contact:
📩 anna.ilhan@uztmk.uzThroughout PDAC, we also welcome you to visit our booth #7523N in the North Building, where you will have the opportunity to engage in direct B2B discussions on project development and partnership opportunities with the Uzbekistan Technological Metals Complex.
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Uzbekistan’s Critical Minerals Move to the Center of US Geoeconomic Strategy
Uzbekistan’s critical mineral resources have become part of a broader US geoeconomic strategy aimed at reducing dependence on China, according to analysis by the Bloomsbury Intelligence & Security Institute (BISI).
The recently signed memorandum between Tashkent and Washington coincided with a US-hosted ministerial meeting on critical minerals attended by more than 40 countries. At the same time, Washington announced the launch of two new mechanisms: FORGE (Forum on Resource Geostrategic Engagement) and Project Vault, a $12 billion strategic reserve fund for purchasing and stockpiling critical minerals.
BISI assesses that the agreement with Uzbekistan fits into a wider network of bilateral partnerships designed to diversify supply chains away from China.
Uzbekistan holds reserves of tungsten, lithium, vanadium, titanium, germanium and graphite — materials considered essential for defense industries, battery technologies and advanced manufacturing. According to BISI, the country could become a “preferred partner” for the United States within the emerging global raw materials architecture.
However, analysts caution that diplomatic engagement must translate into tangible investment. Without financing mechanisms through institutions such as EXIM, the US International Development Finance Corporation (DFC), and private capital channels, the memorandum risks remaining largely symbolic.
China’s role remains a critical variable. While experts consider it unlikely that Beijing will escalate tensions directly, increased commercial competition and diplomatic pressure cannot be ruled out. For Tashkent, this creates the need to position cooperation with Washington as commercial and non-exclusive, preserving existing economic ties with China.
BISI also highlights potential sensitivities in relations with Russia, which could view deeper US-Uzbek cooperation through a geopolitical lens. Possible pressure points may include migration policy or information campaigns.
In the short term, attention will focus on defining concrete projects and operational rules under the FORGE platform. Over the longer term, the success of the initiative will depend on Uzbekistan’s regulatory environment — including licensing stability, tax predictability and investor protection.
Ultimately, these factors will determine whether Uzbekistan becomes an integrated player in a new global minerals system or remains primarily a raw material supplier outside major capital flows.
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Uzbekistan Targets Higher Coal and Uranium Output as New Projects Advance
President Shavkat Mirziyoyev has reviewed progress and future plans in Uzbekistan’s coal and uranium sectors, with officials outlining measures to expand production and improve efficiency.
Coal output for the 2025–2026 autumn-winter season is expected to reach 10 million tonnes, 1.3 million tonnes more than the previous season. So far, 9 million tonnes have been produced, up 590 thousand tonnes year-on-year. Authorities have set a higher benchmark of 11 million tonnes for the following season.
To meet these targets, the government plans to accelerate development of deposits in Tashkent and southern regions, expand selective mining, and привлечь additional excavators and outsourced equipment. Increased private sector participation is expected to add 2.5 million tonnes of coal production in 2026.
Particular focus was placed on the Nishbosh deposit in Angren. The nearly $500 million project, with reserves of 233 million tonnes, is scheduled to begin production in 2026 at 1 million tonnes annually, with long-term capacity projected at 10 million tonnes per year. The development is expected to create 880 permanent jobs.
Officials also presented a $5 billion initiative led by to establish polymer production based on deep coal processing. The project aims to process 8–9 million tonnes of coal annually and produce 1.18 million tonnes of polymer products.
In uranium, Uzbekistan produced 7 thousand tonnes last year, with identified reserves standing at 139 thousand tonnes. Development of the Arnasay, Western Kizilkok, Southern Jongeldi, and Eastern Agron deposits is set to begin this year. With rising production expected, authorities emphasized the need to expand processing capacity and ensure stable supplies of sulfuric acid and technical sulfur for uranium extraction.
The President instructed officials to ensure timely implementation of projects, boost output and enhance economic returns across both sectors.
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Türkiye and Uzbekistan Sign Mining Cooperation MoU Focused on Critical Minerals
Türkiye and Uzbekistan have signed a memorandum of understanding aimed at strengthening bilateral cooperation in the mining sector, with a particular focus on critical minerals and rare earth elements, officials said on Thursday.
The document was signed by Turkish Minister of Energy and Natural Resources Alparslan Bayraktar and Uzbekistan’s Minister of Mining Industry and Geology Bobir Islamov. The signing took place following high-level talks in Ankara between Recep Tayyip Erdogan and Shavkat Mirziyoyev.
According to Bayraktar, the agreement is intended to promote information exchange, research and development, and the implementation of concrete joint projects in the mining sector. He said the memorandum would help advance cooperation in strategically important minerals and support broader economic ties between the two countries.
Writing on Türkiye’s NSosyal platform, Bayraktar described the agreement as an important step toward achieving the bilateral trade volume targets set by the two presidents, expressing confidence that it would deliver mutual benefits.
The signing coincided with the Fourth Meeting of the Türkiye–Uzbekistan High-Level Strategic Cooperation Council, chaired by Erdogan and Mirziyoyev at the presidential complex in Ankara. Beyond mining, the two countries concluded a series of additional agreements and memoranda covering cooperation in health, education, culture, transport corridors, energy, higher education, free and special economic zones, as well as economic and financial affairs.
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Investigation Links UK Shell Firms to $200 Million in Uzbek State Mining Contracts
Two U.K.-registered companies with no apparent mining background won tens of millions of dollars in procurement contracts from Uzbekistan’s state-owned Almalyk Mining-Metallurgical Complex (AMMC) over the past three years, according to an investigation by OCCRP. The reporting found the firms were part of a wider network of companies spanning multiple jurisdictions that collectively secured more than $200 million in AMMC tenders since 2022.
AMMC, described as a “crown jewel” of Uzbekistan’s economy and a potential candidate for a foreign stock exchange listing, is a major producer of copper, silver, and gold and contributes a significant share of national tax revenues. The tenders examined by reporters covered equipment and raw-material supplies and represent around seven percent of AMMC’s total expenditures since 2022. AMMC did not respond to detailed questions about the contracts or delivery performance.
The investigation identified links between the tender-winning companies and two individuals: Grigoriy Khvan, an Uzbek businessman known for his role in the country’s table tennis community, and Felipe Guerrero, a Colombian national with no publicly identifiable mining-sector background. Reporters said these connections, combined with abrupt changes in official filings, raised questions about whether listed owners were acting as proxies.
One U.K. firm, Lemixton Solutions Ltd, reportedly won at least 56 AMMC tenders worth $22.53 million while filing dormant accounts in the U.K. for the same periods. Import-export records reviewed by OCCRP indicated shipments to AMMC during those years. After reporters made inquiries in late 2025, filings were amended in a rapid sequence: a British accountant previously listed as the person with significant control was removed, Khvan was added with control backdated to 2018, and then replaced weeks later by Guerrero, also backdated to 2018.
A similar pattern was reported at a second U.K. company, Golders Business Ltd, which also filed dormant accounts while winning at least $13 million in AMMC tenders and sending more than 100 shipments to the Uzbek enterprise. In both cases, the investigation noted that competing firms sometimes bid against one another for the same tenders even when they appeared to be under common ownership or control.
OCCRP also reported concerns involving procurement paperwork. Contracts worth more than $7 million included electronic signatures attributed to accounting associates who deny signing them or being involved, with at least one individual saying the matter was reported to British authorities.
Beyond the U.K., the investigation traced related activity to Georgia and Singapore. In Georgia, a medical tourism coordinator reportedly purchased companies for a nominal sum after they had already been awarded tens of millions of dollars in AMMC tenders. In Singapore, three companies were reported to have won more than $100 million in AMMC contracts, with corporate records and third-party filings suggesting overlapping links to entities associated with Khvan, though representatives disputed any shared ownership or control.
The findings come as Uzbekistan publicly emphasizes stronger anti-corruption standards and as AMMC’s potential privatization increases scrutiny of procurement transparency and beneficial ownership disclosure.
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A Strategic Assessment of Promise vs. Reality in Central Asia’s Mineral Development
Central Asia’s role in global critical minerals took a decisive turn at the 4 February 2026 Critical Minerals Ministerial in Washington, where officials from more than 50 countries acknowledged the region as a strategic hub rather than a geopolitical buffer.
While Washington presented an ambitious framework to advance mineral sovereignty, analysts caution that the region—not the U.S.—must drive implementation to avoid becoming a passive arena for major‑power competition.
U.S. Strategy: A Vertical Integration “New Order”
The U.S. vision, centred on the FORGE initiative and the concept of “Pax Silica,” positions minerals and energy as shared strategic assets among trusted partners and offers an alternative to dependency on China.
Washington differentiates its value proposition in three areas:- Market Stability Through Price Floors
Proposed tariff‑backed price floors aim to counter predatory market dumping and protect investments in assets such as Kazakhstan’s rare earth reserves. - Vertical Value Integration
The U.S. framework prioritises domestic processing and refining over raw‑ore exports, enabling Central Asian states to capture more value across the supply chain. - Connectivity Autonomy
By incorporating the Middle Corridor into initiatives like TRIPP, the West presents routes that bypass Russia and China, reducing geopolitical transit pressures.
Kazakhstan and Uzbekistan have responded quickly—Kazakhstan has declared critical minerals the “new oil” and joined the Abraham Accords to strengthen supply‑chain integration, while Uzbekistan has pursued strategic MOUs to modernise mining and secure battery‑metal supply chains.
Reality Check: Gaps Between Intent and Implementation
Despite strong rhetoric, Western engagement has largely taken the form of frameworks and MoUs—not operational projects.
Three challenges persist:
- Operational Disparity – China continues to deliver turnkey, financed projects backed by contractors and long‑term offtake agreements, while Western partners emphasise declarations.
- U.S. Inward Focus – Washington’s drive for techno‑economic sovereignty favours selective, de‑risked engagements rather than proactive industrial development in the region.
- Execution Gaps – Uzbekistan’s $2.6bn program covering 76 projects illustrates regional ambition, but real progress requires partners capable of building at scale.
Strategic Imperative: Central Asian Agency
Experts argue that relying on future U.S. demand is a strategic mistake.
To convert high‑level dialogue into economic gains, Central Asia must prioritise:1. Midstream Capabilities
Refining and producing intermediary products offer higher margins and reduce reliance on long‑distance transport of low‑value raw ore.
2. Direct Private‑Sector Engagement
Regional firms should proactively present project‑ready opportunities to U.S. companies rather than depending on government‑to‑government frameworks.
Conclusion
The U.S. “New Order” provides Central Asia with a potential pathway to diversify away from Beijing and Moscow while improving price stability and long‑term sovereignty.
But success hinges on regional execution. Astana and Tashkent must convert diplomatic signals into tangible midstream capacity—and do so quickly—to secure their strategic autonomy before the current window closes. - Market Stability Through Price Floors
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Ending the ‘Extract-and-Export’ Era: How FORGE and Pax Silica Transform Central Asian Mining
The 2026 Critical Minerals Ministerial in Washington has signaled the definitive end of Central Asia’s era as a “landlocked” geopolitical afterthought. For decades, the five nations of the region were viewed through the narrow lens of the “Great Game”—a buffer zone between Russian security interests and Chinese infrastructure investments. However, the “New Order” proposed by the Trump administration, articulated by Vice President JD Vance and Secretary of State Marco Rubio, has repositioned Kazakhstan, Uzbekistan, and their neighbors as the indispensable pivot of a new Western-aligned industrial statecraft.
The Mineral Sovereignty Pivot
The strategic argument for Central Asian states to embrace the U.S.-led FORGE (Forum on Resource Geostrategic Engagement) initiative and the proposed Preferential Trade Zone rests on the promise of escaping “coercive dependencies”. For years, Central Asian producers have been vulnerable to the same market distortions Vance identified in Washington: a “foreign supply” (read: China) that floods markets to crash prices and kill domestic projects.
By joining the new trading bloc, countries like Kazakhstan and Uzbekistan are being offered a “necessary foundation for private financing” and a “price floor” enforced by adjustable tariffs. This mechanism is a game-changer for the region. It essentially guarantees that if Kazakhstan develops its potentially world-class rare earth element (REE) reserves—estimated by some to reach 20 million metric tons—its investments will be shielded from predatory pricing strategies designed to maintain Beijing’s monopoly.
Kazakhstan: The Vanguard of the New Order
Kazakhstan has moved first and most aggressively to align with this reindustrialization doctrine. President Kassym-Jomart Tokayev’s branding of critical minerals as the “new oil” is not mere rhetoric; it is backed by a landmark memorandum of understanding (MOU) with the U.S. signed in November 2025, which focuses on technology transfer and processing capacity.
Perhaps most significantly, Kazakhstan’s accession to the Abraham Accords in November 2025 serves as a profound geopolitical signal. While traditionally a Middle Eastern normalization framework, its expansion to Kazakhstan—the first member with preexisting ties to Israel—is being used to facilitate secure, tech-driven supply chains that reduce the region’s reliance on China. This “unorthodox” alignment places Astana at the heart of the Pax Silica vision, where silicon, minerals, and energy are treated as shared strategic assets among “trusted partners”.
Uzbekistan and the C5+1 Renaissance
Uzbekistan is rapidly following this blueprint. On February 5, 2026, during the Ministerial, Tashkent signed its own strategic MOU with the U.S. to secure supply chains for rare earths and critical minerals like lithium, magnesium, and indium. For President Mirziyoyev, this is a path to modernize a mining sector that has often relied on outdated Soviet-era surveys.
The broader C5+1 diplomatic platform, now celebrating its tenth anniversary, has evolved from a symbolic talk shop into a “pragmatic, project-driven economic coordination framework”. This “renaissance of American influence” is evidenced by the $17 billion in investment projects agreed upon following recent summits and the integration of the Middle Corridor (Trans-Caspian International Transport Route) into the Trump Route for International Peace and Prosperity (TRIPP).
The Argument for Central Asian Alignment
The “New Order” offers Central Asia three structural advantages that neither Moscow nor Beijing can—or will—match:
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Vertical Value Integration: Unlike China’s “extract-and-export” model, the U.S. framework emphasizes domestic processing and refining. This allows Central Asian states to capture high-value segments of the supply chain rather than remaining mere “resource bases”.
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Market Stability: The Project Vault and price floor mechanisms provide a buffer against “market whiplash”. For a region where commodity price volatility can destabilize entire national budgets, this sovereign de-risking is a vital survival tool.
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Connectivity Autonomy: By backing the Middle Corridor/TITR, the U.S. and its partners are providing the region with its first viable route to global markets that does not pass through Russia or China. This reduces the ability of larger neighbors to use transit as a tool of political pressure.
Central Asia is currently in a “hedging game,” and both Pakistan and Central Asian states have approached these initiatives with a degree of caution to avoid immediate Chinese retaliation. However, the message from the 2026 Ministerial is clear: in an economy of “real things,” those who control the minerals control the future. For Kazakhstan and Uzbekistan, the American proposal is not just about mining; it is about finally securing their economic and territorial sovereignty.
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Uzbekistan Surpasses Uranium Production Targets and Accelerates Sector Expansion
Uzbekistan has significantly exceeded its previously announced uranium production targets and plans to continue expanding the sector in the coming years, according to information cited by inbusiness.kz from Reuters.
In 2025, the country increased uranium output to 7000 metric tons, well above earlier government projections. The disclosure was made by the presidential press service, which also said Uzbekistan intends to begin developing four new uranium deposits within the year.
An official report, published for the first time with detailed production data, estimates Uzbekistan’s total uranium reserves at 139000 tons. These figures contrast sharply with earlier expectations from the national atomic energy agency, which had forecast production of just over 4200 tons for 2025.
As part of its longer-term development strategy, Uzbekistan aims to raise annual uranium production to 7200 tons by 2030. Deputy Minister of Mining and Geology Ural Yusupov told state television that one project, with an estimated investment of $150 million, could start production as early as July this year.
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Uzbekistan to Launch Uranium Extraction at Four New Deposits
President Shavkat Mirziyoyev has reviewed the latest developments and future plans for Uzbekistan’s coal and uranium industries during a recent presentation, according to the presidential press service.
Discussions centred on increasing coal output, strengthening competition within the sector, and improving the use of existing reserves. It was noted that during the 2025–2026 autumn-winter season, the country plans to extract 10 million tonnes of coal — 1.3 million tonnes more than last season. Production so far has reached 9 million tonnes, up by 590,000 tonnes year-on-year, with next season’s goal set at 11 million tonnes.
Efforts will focus on faster development of deposits in the Tashkent and southern regions, expanding selective extraction, and engaging additional excavators and outsourced equipment. By supporting private entrepreneurs, authorities expect to produce an extra 2.5 million tonnes of coal in 2026.
Particular attention was given to the “Nishbosh” coal deposit in Angren, where a nearly $500 million investment project is set to begin production this year. With reserves of about 233 million tonnes, the site is expected to yield 1 million tonnes of coal in its first year and reach an annual output of 10 million tonnes. The project will also create around 880 permanent jobs.
Separately, state company Uzkimyosanoat unveiled a $5 billion initiative to establish a new polymer production facility based on the chemical processing of coal. The plant will be capable of converting 8–9 million tonnes of coal into 1.18 million tonnes of polymer products annually.
In 2025, Uzbekistan produced 7,000 tonnes of uranium while confirmed reserves rose to 139,000 tonnes. This year, the government plans to start mining operations at four new deposits — Arnasay, Western Kizilkuk, Southern Jongeldi, and Eastern Agron. To accommodate rising output, additional uranium processing capacity will be developed, including stable supplies of sulphuric acid and technical sulphur.