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German Foreign Trade and Investment Agency on its website has released an article on measures taken to increase Uzbekistan’s investment attractiveness. The report says that the resource-rich Central Asian country is expanding mining and smelting of copper and other non-ferrous, making it very attractive. The agency notes that Uzbekistan has huge business opportunities for suppliers of know-how and equipment, Dunyo reports

‘Non-ferrous metallurgy occupies a key place in the list of priorities of the industrial policy of the Uzbek government. Despite the fact that mining and smelting of non-ferrous metals are concentrated only in the Almalyk Mining and Metallurgical Combine located in the Tashkent region, the company’s multi-billion-dollar investment program is vital,’ Uwe Strohbach explains.

Early in this year, the combine’s project portfolio amounted to $5.2bn. As part of the government’s investment program for 2022-2026, investments in the amount of about $1.3bn have been directed to projects by this time.

The greater part of the investments is intended for mining and beneficiation of copper-molybdenum ores in the new ‘Yoshlik mine. The combine is preparing for the second stage of exploitation of this mine. The capacity of the processing plant is 50mn tons of copper-molybdenum ore. The annual production volume of the copper cathode will be increased to 400,000 tons starting in 2028.

The article says that the creation of a copper cluster provides ample opportunities for foreign companies. By implementing the project, Uzbekistan’s government aims to ensure an effective value chain in the industry. Along with increasing ore processing capacity, this initiative will allow the plant to vend more copper products. In the medium term, the annual revenue is expected to reach over $8bn; this figure was $2.5bn in 2020, the author explains.

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