Uzbekistan plans projects costing $3.7 bln at Navoi, Almalyk mining and metals plants in 2027-2029

MOSCOW. July 21 (Interfax) - Uzbekistan plans to deliver nine projects costing $3.7 billion at the Navoi Mining and Metallurgical Company (NMMC) and Almalyk Mining and Metallurgical Complex in 2027-2029, the Economy and Finance Ministry says in its fiscal strategy for 2027-2029, published on its website.

These include five projects costing $1.2 billion at Navoi and four costing $2.5 billion at Almalyk.

No further details were given.

It has been reported that Almalyk is ramping up the development of the major Yoshlik-1 copper deposit, where a third processing plant costing $2.7 billion was commissioned in the spring. Navoi is carrying out the "Muruntau Open Pit Development" and "Ore Mining at the Kokpatas and Daugyztau Gold Deposits" projects in several phases and is expanding the Nos 2, 3 and 7 hydrometallurgical plants.

Uzbekistan plans to build 121 new high-tech production facilities costing $3.3 billion in the electrical engineering industry in 2027-2029. As a result, copper processing will increase 30% to more than 145,000 tonnes per year, electrical engineering output will increase 40% and the percentage of gross value added in the sector will rise from 21% to 30%.

Uzbekistan plans to over the next three years to increase passenger car production 50% to 700,000 units annually.

In the energy sector, 11.7 GW of additional capacity should be commissioned by 2028, including 2 GW of solar, 5.4 GW of wind and 3.7 GW of thermal capacity, as well as. 560 MW of energy storage systems. "As a result, power generation will reach 108.5 billion kWh," the fiscal strategy says.

These and other projects will help boost industrial output in Uzbekistan by 6.5%-7% annually in 2027-2029.

The wholly state-owned NMMC is Central Asia's biggest and the world's fourth biggest gold miner. The company has 12 deposits, seven hydrometallurgical plants and two heap leaching pads. NMMC is Central Asia's biggest and the world's fourth biggest gold miner. Its operating mines include Muruntau-Myuntenbay in the Central Kyzyl Kum, the world's biggest gold deposit. NMMC produced 3.13 million oz of gold and had revenue of $10.8 billion in 2025.

Almalyk MMC produces refined copper, zinc metal, lead concentrate, molybdenum and other products and is one of Central Asia's biggest base metals producers. The plant's uses feedstock from copper-molybdenum, lead-zinc and gold-silver deposits in the Tashkent, Jizzakh, Namangan and Surkhandarya regions.