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Uzbekistan and the United States strengthen cooperation in the field of critical minerals and energy

Uzbekistan and the United States strengthen cooperation in the field of critical minerals and energy

The event was organized jointly with the American association PRISM, which unites leading companies in the USA, Canada, Latin America and Europe in the field of critical minerals.

The event was attended by about 30 representatives of corporations with projects in the field of critical minerals, including ICD Group, Cove Capital, Pangea Global, Siemens Energy, GM, SAGINT, Neoterra, Lockheed Martin, Fannon Global Advisors, Parsons Corporation, Microsoft, Glencore, Orion Capital, as well as the Department of Commerce, the Department of Energy, the US Development Finance Corporation (DFC) and the University of North Dakota.

Speaking at the event, Ambassador of Uzbekistan Furkat Sidikov introduced participants to the positive dynamics of development of Uzbek-American cooperation in all key areas and noted the prospects for joint implementation of projects in the field of extraction and deep processing of critical raw materials.

The Ambassador encouraged American companies to explore opportunities to create joint ventures and technology centers, localize high-value-added production, expand supply chains, introduce advanced technologies and develop a local workforce training program.

The head of the PRISM association, Christy Rogers, emphasized the dynamically growing interest of American business in Uzbekistan, and also noted that PRISM is considering the possibility of holding a major Uzbek-American conference on critical minerals in Tashkent with the participation of relevant ministries, departments of both countries and specialized companies.

The representative of the US Department of Commerce, Dusan Marinkovic, announced a change in the strategic priorities of his department - from standard transactional tasks to the development of new technological areas, where critical minerals, energy and artificial intelligence are of key importance. “In this regard, Uzbekistan is becoming an important partner of the United States in the formation of sustainable production and technological chains and creating opportunities for cooperation between American companies and the local private sector,” noted the representative of the ministry.

DFC Acting Vice President Bethany Brese informed participants that the US government has launched four new programs to finance geological and infrastructure projects totaling approximately $1 billion. These initiatives are aimed at strengthening global supply chains and developing critical resources both in the United States and internationally.

“Given the strong readiness of the government of Uzbekistan to cooperate, we consider Tashkent as the main regional partner for the implementation of these initiatives, which are a priority foreign policy of the US President,” she emphasized.

The head of Pangea Global, Dan Beets, noted that he personally had the honor of meeting with President Shavkat Mirziyoyev in September of this year in New York City. In the presence of the head of state, he signed a large-scale agreement worth $852 million for a gas pipeline electrification project in Uzbekistan.

Representatives of the American companies General Motors and Siemens informed the participants in detail about the scale and results of economic reforms in Uzbekistan, and also supported the country’s efforts to join the World Trade Organization.

“Thanks to the reforms initiated by the President of Uzbekistan to liberalize the economy and institutional protection of foreign investments, in recent years General Motors factories in the republic have become the largest assets of our company abroad,” added GM Communications Director Tom Cargill.

Glencore communications advisor Sam Oswald noted that the government`s favorable environment is boosting investor confidence and making the country attractive for long-term strategic projects in critical minerals, energy and infrastructure.

Cove Capital board member Ashley Beaty noted that there is significant geological potential in many countries, but the main factor determining the readiness of foreign investors is confidence in the institutional protection of private capital.

According to her, everything that is observed in Uzbekistan today inspires confidence in many foreign companies. Therefore, as Ashley Beaty emphasized, Uzbekistan is one of the key countries in the region, which the company is considering for investment and implementation of large-budget projects.

She also specifically noted the humanitarian and social initiatives of our republic: “You have done amazing work not only in the economic, but also in the social and humanitarian spheres. The initiative of the First Lady of Uzbekistan together with the St. Jude children`s clinic to treat children with cancer deserves great respect and support. This shows that the country is building not only a strong economy, but also a healthy future generation, which is the main wealth of Uzbekistan.”

Vice President of the University of North Dakota Scott Schneider emphasized that the entire range of issues discussed at the round table is of exceptional interest to his university, since it directly relates to the key areas of its activities.

He expressed interest in establishing an academic partnership with the University of Geology and the Tashkent Institute of Aviation to train local personnel, create joint programs, exchange experience and advanced technologies.

As a result of the round table, an agreement was reached to hold separate bilateral negotiations with each of the participating companies for a substantive discussion of the prospects for implementing joint projects.

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