Uzbekistan to build rare and rare earth metals plant

Shavkat Mirziyoyev ordered the construction of a new plant for rare and rare earth metals. Minister of Mining and Geology Bobir Islamov stated this in an interview with O‘zbekiston 24 on May 13.

According to the minister, the increase in coal production is achieved by increasing the number of subsoil users. This year, 14 entrepreneurs plan to produce up to 900 thousand tons – more than 10% of total production.

Bobir Islamov noted that the president set the task of increasing the number of investment projects in the coal industry.

Next year, the volume of coal production is planned to increase to 10 million tons, and in the long term, double it to 20 million tons per year.

In addition, the head of the Ministry of Geology emphasized the importance of developing the direction of rare and rare earth metals – including lithium – for which global demand is growing every year and there is a good price environment.

“In this regard, the leader of the country has instructed to organize a new industrial metals plant, which will be aimed at producing and obtaining rare and rare earth metals in Uzbekistan. We have good potential to implement this task,” Islamov shared.

He also said that the head of state instructed to work in four areas: the development of science, the creation of research and development centers (R&D), attracting innovation to the field, developing investment projects to create new jobs and obtaining products with high added value.

In early April, Uzbekistan and the European Union signed a memorandum of understanding in the field of critical raw materials. The parties want to diversify supplies for the transition to “green” technologies.

Uzbekistan intends to form projects on rare earth materials worth $500 million. The President also ordered to reduce the cost of production at NMMC by 10-15%, as well as expand localization and industrial cooperation.