Traxys to invest $1 billion in Uzbekistan’s critical minerals sector

Dineen Kennedy, Vice President of Traxys, stated that Uzbekistan has already become a key strategic partner for the company. She highlighted the successful ongoing cooperation with Navoiyuran and the Uzbekistan Plant of Technological Metals, both of which are central players in joint industrial projects.

The two parties are currently in negotiations to expand their collaboration through a "cluster approach" in the tungsten and molybdenum industries. Additionally, Traxys is targeting the exploration and development of black shale deposits.

To facilitate these operations, Traxys plans to open a representative office in Tashkent in the coming days. Furthermore, a company delegation is scheduled to arrive in Uzbekistan next week to finalize the technical steps for these collaborative efforts.

In the presence of President Mirziyoyev, an agreement was signed for the extraction and supply of critical minerals. The project carries an estimated value of $1 billion and targets a production capacity of approximately 150 tons per year. The next phase of project implementation is slated to begin in May.

Alan Docter, Chairman of the Board of Directors at Traxys, emphasized that the extraction of critical and rare earth metals was a focal point of the high-level negotiations. He noted that Uzbekistan’s vast resource potential provides a foundation for a new era of industrial growth in the country.