As the world economy enters the era of "green" energy and new technologies, critical minerals have become the main pillar of sustainable development. In this regard, cooperation between Uzbekistan and the USA has also reached a new strategic level in the field of critical minerals.
In this direction, the Uzbekistan Technological Metals Complex (TMK), established at the initiative of our country's President Shavkat Mirziyoyev, is playing an important role as a company creating a complete value chain for critical minerals.
In September 2024, a Memorandum of Understanding on cooperation in the critical raw materials sector was signed between the Republic of Uzbekistan and the US government. On this basis, TMK is consistently developing cooperation with US companies, positioning Uzbekistan as a reliable partner in the global market for critical minerals. Simultaneously, TMK is developing comprehensive cooperation with the USA in the areas of investment, finance, trade, technology, research, and education. This, in turn, is opening up new opportunities in the critical minerals supply chain.
In particular, in the investment sector, preliminary agreements have been reached on implementing investment projects with US companies such as Cove Capital, Traxys, Freeport-McMoRan, Denali Exploration Group, Gogreen Partners, American Resources Corporation and its subsidiary Re Element Technologies. Negotiations are also underway with investment companies like Orion Resource Partners.
The dialogue between TMK and the US investment company "Cove Capital" began during meetings held in New York City, where mutually beneficial proposals for implementing joint projects were put forward. These negotiations yielded practical results in a short time, and a Memorandum of Understanding on investment cooperation was signed between the two companies.
This cooperation was also supported at the state level, transforming bilateral relations into concrete practical programs. Furthermore, as a high-level stage of cooperation with "Cove Capital," a portfolio company "CoveUZ LLC" was established to implement projects in Uzbekistan. Currently, work is underway with the company to develop deposits and conduct geological exploration in new promising areas.
In the field of financing, a series of negotiations and dialogues at various levels were conducted with leading U.S. financial institutions, including the Export-Import Bank of the United States (EXIM Bank) and the International Development Finance Corporation (DFC). Currently, projects acceptable to both parties, along with their financing forms, conditions, and possibilities, are being explored. These initiatives not only strengthen the economic partnership between the two countries but also serve to enhance the attractiveness of the investment climate.
In the trade sector, negotiations are currently underway with major U.S. companies such as Traxys, CCMA LLC, Tranzact Inc., MBR Metals USA, VLCor USA, and Silver Eagle Technology Inc. Prospects for cooperation in selling TMK products to the U.S. market are being developed with these companies.
The next phase of TMK's collaboration with the United States focuses on developing research, education, innovation, and scientific-technical fields. Notably, a cooperation agreement on training in modern technologies has been signed between TMK and the Massachusetts Institute of Technology (MIT), which ranks first among the world's top universities. According to this agreement, in the initial stage, 100 TMK engineers will participate in knowledge and skill enhancement programs on MIT's advanced educational platform. This initiative aims to elevate the system of training scientific and modern engineering personnel in the field of critical minerals in Uzbekistan to international standards.
Another important aspect of cooperation is legislative and institutional reforms. In collaboration with the US Department of Commerce's CLDP program, work is underway to improve the legislative framework in the field of minerals and align the documents regulating subsoil use with international standards.
The participation of the leader of Uzbekistan in the "C5+1" summit of Central Asian countries and the United States of America leaders, held in November 2025 in Washington under the chairmanship of US President Donald Trump, elevated relations between the two countries to a new, qualitatively higher level.
In his speech at the summit, President Shavkat Mirziyoyev, noting the stable development of relations between Central Asia and the USA, emphasized that the C5+1 platform has become an effective mechanism for regional economic and technical cooperation over the past decade. During the discussions, the head of our state proposed an initiative to establish a special committee to effectively coordinate efforts in the field of industrially important minerals, integrate mining and processing, and incorporate finished products into global supply chains.
This initiative was received as an important step towards the rational management of the region's resource potential and the attraction of advanced technologies.
At the same time, a number of important documents were signed to further develop economic and investment cooperation between Uzbekistan and the USA.
In particular, an agreement on cooperation in the extraction and processing of rare earth elements was signed between the Ministry of Mining and Geology and "Denali Exploration Group" company, and a comprehensive trilateral agreement was signed between TMK, "American Resources Corporation," and "Re Element Technologies" company.
This agreement provides for the development of a value chain for critical minerals, that is, Uzbekistan encompasses a full technological cycle based on the "upstream-midstream-downstream" principle, from the extraction of industrially important minerals to their processing and the production of finished products with high added value.
At the same time, a preliminary agreement was reached with the Ministry of Mining and Geology and Freeport-McMoRan company on the extraction and processing of critical minerals. These agreements will contribute to the creation of a critical mineral chain in our country, the modernization of technological production, and the strengthening of international cooperation.
The adoption of the Decree by our President on November 12, 2025, on the establishment of the American-Uzbekistan Business and Investment Council also elevated the comprehensive strategic partnership between the two countries to a new level. This Decree will certainly serve to further strengthen cooperation between the two countries, including in the field of industrially important minerals.
TMK, for its part, aims to implement the country's priority directions in the field of critical minerals through specific projects and technological solutions.
