Uzbekistan and Saudi Arabia are developing proposals for cooperation in mining as Tashkent seeks foreign investment to expand mineral production and domestic processing.
Uzbek President Shavkat Mirziyoyev met a Saudi delegation led by Energy Minister Prince Abdulaziz bin Salman on 10 November during the United Nations’ 31st Conference of the Parties (COP31) climate summit in Antalya, Türkiye.
The parties discussed extending their economic partnership into mining, oil and gas, and petrochemicals, according to the Uzbek President’s office.
No specific minerals, projects, investment amounts, agreements, or development schedules were disclosed. Most existing joint projects between the countries are concentrated in renewable energy.
Uzbekistan expands minerals plans
The talks follow Uzbekistan’s announcement of plans to increase the production of critical minerals and processed materials.
State-owned Uzbekistan Technological Metals Complex is seeking to launch 12 investment projects and establish production of 11 additional metals and minerals, including copper, nickel, cobalt, graphite, antimony, tin, manganese, platinum, and vanadium.
Uzbekistan says the production value of 16 targeted metals could exceed US$2.7 billion ($3.84 billion) by 2030. Proposed tungsten-processing projects are expected to require US$1.1 billion of investment.
The country also aims to double annual uranium production from 7,500 tonnes in 2026 to 15,000 tonnes by 2030.
Uzbekistan has been seeking investment and technology from several international partners while promoting domestic processing. European institutions and companies are pursuing closer critical minerals ties with Central Asia.
Saudi Arabia is also exploring mining opportunities elsewhere in the region. Saudi and Pakistani officials discussed prospective investment in Pakistan’s minerals sector in October, although no commitments were announced.
The latest Uzbekistan-Saudi talks remain preliminary, with further proposals required before any mining investment can proceed.
Write to France Pinzon at Mining.com.au
Main image: President of the Republic of Uzbekistan
