News
The results of the transformation programs execution and future plans have been reviewed.
Over the past seven years, production in this sector has increased by 1.5 times. In particular, the annual production of gold has increased by 26 tons, silver by 77 tons, and copper by 32,000 tons compared to 2016.
Over the past five years, about $9.5 billion in investments have been attracted to the mining and metallurgical industry, which has allowed the launch of 15 major projects. As a result, the sector has become a key driver of economic transformation, accounting for a third of the country’s total industrial production.
The mining industry stimulates the growth of sectors such as electrical engineering, construction materials production, chemical industry, and jewelry making by providing the necessary raw materials. Furthermore, the plants are actively cooperating with over 60 small and medium-sized enterprises on a cooperative basis.
The continuation of this work and improving economic efficiency remain important tasks. The enterprises in the sector must become attractive companies on international financial markets.
At the meeting, the Minister of Mining and Geology, as well as the heads of the plants, presented future plans.
In 2025, $1 billion in investments is planned for projects in the mining and geology sectors. Kaolin production is expected to grow by 50%, and coal production will reach 10 million tons.
This year, the Navoi Mining and Metallurgical Combine issued eurobonds on the international market for the first time and attracted $1 billion at a low rate. Next year, it is planned to issue eurobonds worth another $500 million.
At the Almalyk Mining and Metallurgical Combine, the third copper ore beneficiation plant will be launched, and at the Uzbek Metallurgical Combine, a new casting and rolling complex will be introduced. The Uzbekistan Technological Metals Combine will expand production of rare earth metals needed for the "green economy."
The President emphasized that next year, the plants should carry out large-scale changes through transformation to increase their competitiveness in the global markets.
The key tasks include: reducing the cost of production, complete digitalization of operations, attracting funds from international markets, implementing new technologies, and automating production processes.
The President noted that enterprises must quickly adapt to changes in the global economy and show initiative. Measures were identified to reduce costs based on the principles of economy and efficiency, as well as to ensure the uninterrupted supply of necessary raw materials to the industry.
