Uzbek former Foreign Minister Vladimir Norov has highlighted that Uzbekistan is emerging as one of Eurasia’s most promising destinations for mining investment.

Over the past nine years, the country has attracted around $10 billion in foreign investment into its mineral and metallurgical sector, reflecting growing international confidence in Uzbekistan’s resource base and ongoing industrial reforms, The Caspian Post reports via Uzbek media.

The nation is gradually transforming its mining industry, moving from basic extraction to advanced resource processing, creating value chains, and boosting export-oriented production. Today, 65 private enterprises operate in the sector, showcasing the rising role of private capital and international partnerships.

A major milestone was the launch of the third copper smelting plant at the Almalyk Mining and Metallurgical Complex, valued at $2.7 billion, significantly increasing copper processing capacity and strengthening the country’s industrial base, Norov noted.

Uzbekistan holds substantial strategic and critical mineral resources:

Gold: 5,300-6,000 tons, with the Muruntau deposit ranking among the world’s largest.

Copper: 45-50 million tons of ore, mainly in the Almalyk region, operated by the Almalyk Mining and Metallurgical Complex.

Uranium: 130,000-140,000 tons, placing Uzbekistan among the world’s top five producers, with Navoi Mining and Metallurgical Complex as the main extractor.

Silver: 10,000-12,000 tons, largely a byproduct of gold and copper mining.

Tungsten & Molybdenum: 70,000-80,000 tons and 60,000 tons, vital for engineering and high-tech industries.

Other resources: Significant deposits of lithium, vanadium, and rare earth elements, crucial for clean energy and future technologies.

According to government data, the total value of Uzbekistan’s mineral resources exceeds $3 trillion, with over 2,700 identified deposits, around 900 of which are actively developed. With abundant raw materials, expanding processing capacities, and a reform-driven investment climate, Uzbekistan positions itself as a regional hub for mining, metallurgy, 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.