On December 2, President Shavkat Mirziyoyev reviewed the progress of transformation programs of metallurgical enterprises and their plans for 2025.
Over the past seven years, production in this industry has grown 1.5 times. In particular, the annual volume of gold production increased by 26 tons, silver – by 77 tons, copper – by 32 thousand tons compared to 2016.
Over the past five years, the mining and metallurgical industry attracted about $9.5 billion of investment, allowing the launch of 15 major projects. As a result, the industry has become the most important driver of economic transformation, accounting for a third of the country’s total industrial output.
The mining sector stimulates the growth of such industries as electrical engineering, construction materials, chemicals and jewelry, providing them with the necessary raw materials. In addition, the plants actively collaborate with more than 60 small and medium-sized enterprises on a cooperative basis.
Continuing this work and improving economic efficiency remain an urgent task. The enterprises of the industry should become attractive companies in the international financial markets.
At the meeting, the Minister of mining industry and geology, as well as the heads of the plants presented plans for the future.
In 2025, it is planned to attract $1 billion of investment in mining and geology projects. Kaolin production should increase by 50 percent, and coal mining should reach 10 million tons.
Navoi Mining and Metallurgical Complex this year placed Eurobonds on the international market for the first time and attracted $1 billion at a low rate. Next year it plans to issue Eurobonds worth another $500 million.
The Almalyk Mining and Metallurgical Complex will commission its third copper ore beneficiation plant and the Uzbek Metallurgical Complex will commission a new foundry and rolling complex. The Uzbek Technological Metals Plant will expand production of rare earth metals, which are in demand in the green economy.
The President emphasized that next year the factories must implement large-scale changes through transformation in order to improve their competitiveness in the global markets.
Among the most important tasks were highlighted: reducing production costs, fully digitalizing operations, attracting funds from international markets, introducing new technologies and automating production processes.
The President noted that enterprises should quickly adapt to changes in the global economy and demonstrate initiative. Measures were identified to cut costs based on the principles of economy and efficiency, as well as to ensure uninterrupted supply of necessary raw materials to the industry.