USA — new player in Uzbekistan's natural resources sector (video)

On September 16, U.S. Ambassador to Uzbekistan Jonathan Henick and the First Deputy Minister of Mining and Geology of Uzbekistan, Omonullo Nasriddinkhojaev, signed a memorandum of understanding aimed at strengthening bilateral cooperation in the field of mineral resources. The signing ceremony, is covered by QALAMPIR.UZ correspondent, marks a significant step in enhancing ties between the two nations in this critical sector.

"The global economy is evolving rapidly, with the green economy being one of the fastest-growing sectors. This includes advancements in electric vehicles, solar energy, and wind energy—all of which require new technologies and vast quantities of critical minerals. Our partners in the U.S. and worldwide recognize the importance of working with potential major suppliers to efficiently extract, profit from, and establish resilient supply chains that support these emerging industries. The U.S. possesses some of the best technologies in this industry, and naturally, collaboration with Uzbekistan, a country with some of the world's largest mineral reserves, is key to these efforts. This partnership will enable a policy framework for cooperation between governments and industries, paving the way for deeper future collaboration," Ambassador Henick said in an interview with the media.

The ambassador acknowledged the potential challenges facing the sector, noting that mining requires extensive exploration, proving reserves, and significant financial investments. Environmental concerns also present obstacles.

"All these challenges are ahead of us. However, I believe that collaboration between American and Uzbek companies will create excellent opportunities to overcome these difficulties," Henick added.

He highlighted that American companies have been operating in Uzbekistan since its independence, but collaboration in identifying essential and rare earth minerals has intensified only in recent years.

"We've been working on this memorandum for about a year. Uzbekistan was invited to join a vital mineral security cooperation initiative led by the U.S., the European Union, and G7 member states. This memorandum is another important step in those efforts," the ambassador explained.

The signing of the memorandum took place just ahead of Uzbekistan's participation in MINExpo INTERNATIONAL, the largest global mining industry event, scheduled for September 24-26, 2024, in Las Vegas, Nevada, USA.

At the C5+1 summit held in New York in September 2023, U.S. President Joe Biden, Uzbek President Shavkat Mirziyoyev, and the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan announced their intention to initiate a dialogue on minerals. This memorandum reflects the commitment of the U.S. and Uzbekistan to advance those discussions, strengthen economic cooperation, and boost investments supporting the clean energy transition while preserving Central Asia's unique ecosystems.

Minerals and rare earth elements are crucial for clean energy and other technologies, playing an increasingly important role in the global economy. The U.S. is actively working to attract private sector investments into Uzbekistan's mining industry. The memorandum underscores a shared goal of ensuring high environmental, labor, and management standards in the future of the global mining sector.

"Uzbekistan and the U.S. must collaborate to build robust and secure supply chains that will shape the future of the energy sector. This MoU signifies our joint commitment to diversifying global mineral supply chains and expanding bilateral trade relations. We are excited to mark the next phase of our strategic cooperation with Uzbekistan," concluded Ambassador Henick.