Kazakhstan and Uzbekistan agree to cooperate on rare earth metals

Kazakhstan and Uzbekistan have signaled a new phase of industrial partnership by exploring ways to strengthen cooperation in the field of rare earth metals. The discussions took place during the inaugural meeting of a joint working group on geology and mining held in the Kazakh capital.

The meeting was co-chaired by Iran Sharkhan, Vice Minister of Industry and Construction of Kazakhstan, and Rustam Yusupov, Deputy Minister of Mining Industry and Geology of Uzbekistan. According to the Kazakh Ministry of Industry and Construction, the primary focus of the talks was the expansion of bilateral efforts in geological exploration, as well as the extraction and processing of critical minerals.

The delegations covered a wide range of strategic topics, including the exchange of modern technology and expertise, the launch of joint ventures, and mechanisms for attracting international investment. A significant portion of the dialogue was dedicated to developing deeper processing capabilities for raw materials, a move intended to move both nations further up the global value chain.

Following the talks, the parties agreed to establish a permanent working group. This body will be supported by specialized subgroups comprised of representatives from the private sector, academia, and various educational institutions to ensure a multidisciplinary approach to the sector's development.

This regional cooperation comes as Uzbekistan continues to attract global interest in its mineral wealth. Recently, the Luxembourg-based commodities trader Traxys announced plans to invest $1 billion in the republic, specifically targeting projects focused on tungsten and molybdenum.