Uzbekistan and Kazakhstan are courting foreign expertise for more mineral processing at home, as the European Union seeks to reduce supply-chain concentration for industries that rely on critical raw materials.
Uzbekistan’s industrial pitch includes a company portfolio and a wider effort to attract foreign partners. At a Sept. 17 Berlin roadshow, Uzbekistan Technological Metals Complex (TMK) presented more than 140 proposed projects valued at about $4.2 billion, according to the company. It said outside technology and manufacturing expertise could help expand production in Uzbekistan. TMK also promoted domestic processing at the Oct. 27-28 Uzbekistan International Mining and Metals Forum in Tashkent.
During Kazakhstan President Kassym-Jomart Tokayev’s Sept. 28-30 visit to Germany, the two countries signed a 2026-2028 industrial roadmap. Kazakhstan’s Foreign Ministry said the plan covers joint production and cooperation in extracting and processing critical raw materials. It is intended to add more value to goods made in Kazakhstan.
A separate lithium initiative remains under discussion. Baiterek Holding said it discussed deposits in East Kazakhstan and possible processing in the country with Germany’s HMS Bergbau on Sept. 28. Baiterek said it may consider participating as the project develops, subject to applicable requirements and procedures; its announcement did not state a current investment commitment.
The European Union signed raw-materials partnerships with Kazakhstan in 2022 and Uzbekistan in 2024. The European Commission cites concentrated import dependence and supply disruption risks as reasons to diversify. The EU’s Critical Raw Materials Act sets a 2030 benchmark for processing capacity equal to at least 40% of annual consumption of strategic raw materials. It also sets a benchmark that no more than 65% of any such material should come from a single non-EU country.
The Commission identifies the Trans-Caspian Transport Corridor as a potential route for mineral trade between Central Asia and Europe. EconoTimes has also covered earlier U.S.-Central Asia discussions involving trade routes and critical minerals.
TMK’s financing announcements include a €50 million term sheet in May and a June 18 mandate with Société Générale to arrange the same amount in pre-export financing. On Oct. 16, TMK announced another term sheet but did not restate the amount; the company has not explained how the May and October term sheets relate. TMK said a final loan agreement remains to be executed and gave no date for it.
