Uzbekistan’s vast and increasingly accessible natural wealth is drawing comparisons to the resource-rich regions of the Middle East and Russia’s Urals. This perception was recently bolstered when President Shavkat Mirziyoyev announced the discovery of a major gas field in the Ustyurt region. Speculation is rising that this field could be part of a colossal subterranean ‘gas river’ stretching from Siberia through Central Asia and Iran to the Arabian Peninsula, potentially reshaping regional energy dynamics.
A new major mining and industrial cluster is now emerging near the capital, Tashkent, in the Kurama Mountains, an area known for precious metals since antiquity. This development stands in stark contrast to the region’s Soviet-era history. During the 1940s, the southern, Tajik side of the same mountain range became the site of a secret uranium mining city, Taboshar (now Istiklol), built by German POWs. That facility, which some unconfirmed reports link to the first Soviet atomic bomb, operated until the collapse of the USSR, leaving behind a legacy of hazardous waste that Russia only recently helped remediate.
While Tajikistan’s rich uranium deposits were exploited heavily during the Soviet period, similar potential on the Uzbek side of the Kurama range was largely underestimated. Today, the tables have turned. Leveraging the foundational work of Soviet geologists and armed with modern technology, Uzbekistan is uncovering a treasure trove of gold, silver, uranium, and rare earth elements. Unlike neighboring Tajikistan, where Chinese specialists are heavily involved in mining operations, Uzbekistan is developing its most valuable deposits primarily with its own national experts, signaling a new era of resource sovereignty.
Thanks to these efforts, Uzbekistan has already become one of the world’s leading nations in both uranium reserves and production, with the majority currently extracted by the Navoi Mining and Metallurgical Combinat and exported globally. The country is also a significant gold producer, with an estimated annual output of around 130 tons, although official figures for precious metals are closely guarded state secrets. While the Navoi region accounts for about 80% of this production, the new developments near Tashkent are set to add substantial volumes.
A prime example of this ambition is the new ‘Yoshlik-1’ deposit, being developed adjacent to the existing Almalyk mining complex. With investments approaching $2 billion, the project is expected to create 6,000 jobs and, by 2035, will be extracting tens of millions of tons of ore containing gold, copper, silver, molybdenum, selenium, and other critical rare earth elements, further cementing the country’s role as a key supplier of strategic materials.
This economic ascent underpins Uzbekistan’s carefully calibrated foreign policy. The nation maintains a neutral status, staying outside the Russia-led CSTO military alliance, while actively engaging with the Shanghai Cooperation Organisation (SCO) and holding observer status in the Eurasian Economic Union. This self-sufficient stance allows it to foster relations with all partners, including neighboring Afghanistan, without being tied to a single bloc. By diversifying its economy beyond mining into tourism, textiles, and automotive manufacturing, and positioning itself as a key node in the SCO’s ‘Belt and Road Initiative’, Uzbekistan is strategically leveraging its newfound wealth to forge a path as a pivotal economic and political player in Central Asia.