Mirziyoyev: Uzbekistan launched over 70 critical mineral projects worth $1.6B

Uzbekistan, in partnership with major companies from the US, China, and Türkiye, has launched more than 70 critical mineral projects worth a total of $1.6 billion, Uzbek President Shavkat Mirziyoyev said at the official opening ceremony of the 59th annual meeting of the Asian Development Bank (ADB) Board of Governors, Report informs.

He noted that in this technological age, competition in the field of critical minerals is intensifying daily. International experts estimate that demand for industrially important minerals will increase sixfold by 2040.

"Uzbekistan has large reserves of copper, tungsten, molybdenum, magnesium, graphite, vanadium, titanium, and other minerals. To tap this potential, we have established a research center with our Korean partners and are building a technology park for metals of the future in the Tashkent and Samarkand regions. We have launched over 70 projects with major companies from the US, China, and Türkiye, totaling $1.6 billion. Our goal is not only to extract minerals but also to provide new impetus to economic development through their advanced processing," Shavkat Mirziyoyev added.