Plans in the field of geology and the mining and metallurgical industry were considered

On April 29, President Shavkat Mirziyoyev held a meeting to discuss tasks in the field of geology and the mining and metallurgical industry, the press service of the head of our state reports.

The domestic geological industry is allocated one trillion soums annually and as a result of the implementation of targeted programs, last year the volume of production in the mining industry reached almost 11 billion dollars.

However, the bulk of this volume comes from precious and non-ferrous metals, although there is huge untapped potential for industrially critical minerals. In particular, 32 types of such minerals have been discovered in our country.

In this regard, at a presentation held on January 15, the head of state gave instructions on using opportunities in this area. At today’s meeting, measures taken, plans and proposals were reviewed.

Today the world is experiencing dynamic development of technology. There is an increasing demand for rare earth metals in the electric vehicle industry, green energy and electrical industries. Therefore, in recent years, prices for molybdenum, tellurium, selenium and graphite have increased significantly on the world market.

The President pointed to the great prospects opening up. The need to expand the development of existing and exploration of new deposits of critical raw materials was emphasized.

Currently, six types of such raw materials are mined in our country. At the same time, it is possible to obtain products with high added value from the metals platinum, indium, vanadium, as well as minerals containing tungsten, molybdenum, rhenium, zinc and manganese. For example, it is possible to organize the production of products in the powder metallurgy industry, which previously did not exist in our country, for 300 million dollars, and in the field of equipment and components for 100 million dollars per year.

An agreement on critical raw materials was recently reached with the European Union, allowing greater access to this large market.

Taking this into account, the responsible persons were instructed to formulate, with the participation of foreign experts and investors, a program of promising projects worth $500 million on rare earth metals. The need to develop this area with a scientific approach was emphasized, to organize a project office for this purpose and to attract leading institutes and research centers.

The meeting also discussed issues of increasing the production of precious metals at the Navoi Mining and Metallurgical Plant.

Responsible persons reported on opportunities to further increase both reserves and gold production volumes.

The President gave instructions to reduce production costs at the plant by 10-15 percent, expand industrial cooperation and localization. The task has been set to organize a Scientific Center for Advanced Technologies for Precious Metals.