Uzbekistan’s gold reserves amount to 6,400 tons and silver and copper reserves make up 24,600 and 21.3mn tons, respectively, media reports with reference to the Center for Economic Research and Reforms (CERR).
Over the past six years, the share of physical metallurgy in manufacturing has surged from 11% to 24%. Last year production amounted to UZS 106.4 trillion.
According to analysts, by 2030, demand for copper will hike by 45% and reach 38,000 tons per year, which will entail an increase in interest in electric vehicles and infrastructure development for the ‘green’ industry.
Also, due to the deep processing of copper and zinc, it is expected to increase the production of products with high added value.
According to the Central Bank, Uzbekistan’s international gold reserves amount to $22.8bn.
The reserves of the republic in gold significantly exceed the volume of imports. However, many international organizations recommend countries have a financial ‘airbag’ in the equivalent volume of imports for at least three months.
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