Uzbekistan, Traxys sign critical minerals cooperation deal

Photo: The Ministry of Mining Industry and Geology of Uzbekistan

BAKU, Azerbaijan, October 20. Uzbekistan and U.S.-based commodities trader Traxys signed an agreement to expand cooperation in critical minerals, including exploration, extraction, advanced processing and investment in joint projects, during a meeting on the sidelines of the C5+1 business forum in Samarkand on October 19.

This was reflected in the statement by Uzbekistan's Ministry of Mining Industry and Geology.

The Uzbek delegation included Deputy Prime Minister Jamshid Khodjaev, Investment, Industry and Trade Minister Laziz Kudratov, and Mining Industry and Geology Minister Bobur Islamov. They met with Traxys CEO Mark Kristoff to discuss the current state of cooperation and prospects for further partnership.

The talks focused on geological exploration, mineral extraction and processing, attracting investment, introducing modern technologies and implementing joint projects in the critical minerals sector.

The meeting followed earlier discussions between Uzbekistan and Traxys on transforming the country's mining and geological industry, improving conditions for investors and establishing long-term cooperation.

The sides highlighted opportunities to expand partnerships with Uzbek mining companies and develop sustainable production and supply chains.

Uzbek officials reaffirmed their readiness to support the implementation of joint initiatives, while Traxys expressed interest in expanding mutually beneficial cooperation and participating in prospective projects in Uzbekistan.

The agreement outlines further areas of cooperation and joint work, although the parties did not disclose its financial value, specific project commitments or implementation timelines.