Uzbekistan has announced a $2.6bn initiative to develop the country’s substantial mineral resources, setting the Central Asian nation up to potentially become an important source of rare earths for US businesses. 

During a March 7 presentation in Tashkent, President Shavkat Mirziyoyev announced a three-year investment plan to develop 76 projects covering 28 different elements used in the production of durable goods. Uzbekistan has identified significant deposits of critical minerals, such as tungsten, lithium, titanium and vanadium, an element used in the construction of nuclear reactors. But to date, the deposits have not been aggressively developed, in part due to lagging investment.

The initiative aims to stimulate a home-grown industrial base, in which minerals mined in Uzbekistan are used to manufacture cars, electronics and high-tech items at plants located in the country. The plan also opens the door for new trade and investment opportunities for the United States.

“The main task is to extract valuable raw materials directly from ore using modern technologies, increase the purity of minerals and create products with high added value,” read a statement issued by Mirziyoyev. “For example, enrichment of tungsten concentrate from the Ingichka deposit will double the added value.”

The Uzbek initiative will involve funding for geological prospecting to identify new deposits, as well as the development of technology hubs in the Tashkent and Samarkand regions to train specialists in the use of new technologies and promote best mining practices.

That is where the United States can play a significant role. 

The Trump administration’s foreign policy has prioritised expanding US access to rare earths around the world, aiming to reduce a heavy reliance on China for critical supplies. Uzbekistan appears to be seen in Washington as an important node of opportunity.

In a February 21 phone call with his Uzbek counterpart, US Secretary of State Marco Rubio stressed that the United States is eager to take advantage of “mutually beneficial opportunities for investment in critical minerals.” Within that context, the March 7 Uzbek initiative seems like an invitation to the Trump administration to back up its words with action. Uzbekistan presently lacks the knowhow and technology to make Mirziyoyev’s vision a reality.

US interest in Uzbekistan’s mineral wealth predates Trump’s return to the White House. During the Biden administration, the two countries, as part of the C5+1 format, established a dialogue in September 2023 to explore collaborative opportunities concerning Uzbek deposits.

In September 2024, Uzbekistan and the United States signed a memorandum of understanding covering the development of mineral resources. “The document serves as an important step in continuing the US-Uzbekistan dialogue on exploration, mining, and value-added product chain development,” stated a press release issued by the Uzbek Ministry of Mining Industry and Geology.

Last November during a visit to Tashkent, then-US Assistant Secretary of State for South and Central Asian Affairs Donald Lu highlighted cooperation on critical minerals as a key part of a developing strategic partnership between the two states. 

“Both sides declared the importance of continuing close consultations and celebrated new areas of cooperation, including in critical minerals production,” Lu stated.  “The United States and Uzbekistan have seen significant progress in the critical minerals sector with the recent signing of the Critical Minerals MOU in September and Uzbekistan joining the Minerals Security Partnership.” 

This article first appeared on Eurasianet here.