President of Uzbekistan, Shavkat Mirziyoyev, recently reviewed a copper mining and processing project in collaboration with China in the Chust district of the Namangan region. The project, valued at $200 million, aims to produce 30,000 tons of copper annually, with China Mining Energy Group leading its implementation. It is expected to create 420 jobs and contribute 121 billion sum to the budget.
Geological exploration work is set to commence in April. China Mining Energy Group, established in 2003 with assets worth $32 billion and 40,000 employees operating in 17 countries, specializes in gold, copper, and aluminum mining.
In October 2021, the former Ministry of Economic Development reported that Uzbekistan earns $2.5 billion from copper product sales, with 60% of the metal being exported as raw material. With the global demand projected to increase by 40% by 2030 due to the rise in electric vehicle and electronics production, the Ministry recommended developing electric charging stations based on the Almalyk Mining and Metallurgical Complex's copper cluster, as well as electric vehicles and buses.
