President of Uzbekistan Shavkat Mirziyoyev, speaking at the III Tashkent International Investment Forum, outlined priority areas for expanding mutually beneficial cooperation between the country and investors.

One of these directions, he mentioned, is the extraction of minerals.

“Uzbekistan is rich in mineral resources and critical raw materials. Our country has large reserves of gold, copper, tungsten, silver, and uranium. We are particularly interested in paying attention to the reserves of rare and rare-earth metals, including lithium, magnesium, molybdenum, germanium, vanadium, and indium, among others,” Shavkat Mirziyoyev emphasized.

The head of state recalled the establishment of the strategic cooperation in critical raw materials with the European Union in April.

“We are also actively working with the United States and the United Kingdom to sign documents in this area,” the president of Uzbekistan said.

A new Law on Subsoil will be adopted based on modern international practice, the head of state shared.

“We express our gratitude to the EBRD for its assistance in this matter,” the president added.

Shavkat Mirziyoyev invited leading companies to Uzbekistan to implement projects on deep processing of strategic raw materials and creating high-valued chains.

A few days earlier, during a geology sector meeting, the president of Uzbekistan emphasized the importance of exploration of new deposits of critical raw materials such as lithium, graphite, indium, vanadium, and rhenium. He directed the development of rare earth mineral extraction projects worth $500 million.