Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Uzbekistan has plans to produce 400,000mt of copper annually in the next five years to meet the growing demand, according to an official press release on June 28. The country is focused on developing a five-year program to expand geological exploration for base metals and rare earth metals.


In 2020, the country produced 148,000mt an increase of 1.5pc over the past five years. Uzbekistan imports 60pc of copper as a raw material.


Global demand for copper is forecast to increase by 40pc by 2030 on the thrust towards electric vehicles, electric engineering, and renewable energy.


By increasing copper production in Uzbekistan to 400,000mt annually over the next five years, the country’s revenue from copper can reach $7-8bn from $2.5bn in 2020.


The country has adopted measures to develop mining and metallurgical industry and related industry. 

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