Uzbekistan is a country with impressive mineral reserves. As well as being one of the largest gold producers in the world, it also produces copper, lead, molybdenum, silver, tungsten, zinc, coal and steel. Such wealth helped Uzbekistan to attract an estimated $2.9 billion of foreign investment in previous year, it is has also welcomed many large international companies who have since embarked on mining joint ventures with the Government.

With a return to steady economic growth of between 4 and 5 percent and a leadership committed to economic infrastructure development, Uzbekistan offers a welcoming investment climate with concessions for international investors. A socio-economic structure more advanced than that of its neighbours brings Uzbekistan ever closer to becoming a true free market economy. Couple this with the likely resolution of currency conversion issues and the determination to become a stand-alone economic force in the region, and Uzbekistan should feature in the portfolio of any serious investor seeking a global presence.

After Russia, it is the second largest producer of Gold in the CIS and boasts large reserves of uranium, copper, lead, zinc, silver, molybdenum, tungsten, coal as well as industrial minerals. Inward investment is fundamental to the industry and currently over 200 foreign companies contribute some US$10 billion (20% of the total investment). As mines throughout the country look at modernisation programmes, large contracts to supply equipment are being offered and more recently, awarded to international companies who have successfully entered the market.

The country holds rich reserves of minerals, non-ferrous metals and was among the world's largest producers of gold. Uzbekistan was in fact the first FSU state to host a major gold mining joint venture, the Zarafshan-Newmont JV. Since this time many of the principal exploration and development companies including Newmont Mining Corporation, Mitsui Mining Construction, Oxus Mining, Teck Corporation and Nelson Gold have seized the opportunity and successfully set up operations in dozens of mineral deposits spread throughout the country.

The impressive developments of the mining industry in Uzbekistan over the past couple of years have drawn our attention to this market. During our recent events, many of the mining industry market leaders have expressed their interest in Uzbekistan to us and have asked us to look into organising a Mining exhibition in Tashkent.