Vladimir Norov, Former Foreign Minister of Uzbekistan
As global powers compete to secure critical raw materials for clean energy and advanced technologies, Central Asia has emerged as a pivotal region in the 21st-century resource race.
Central Asia boasts a significant share of the world’s essential minerals, holding 38.6% of its manganese ore, 30.07% of chromium, 20% of lead, 12.6% of zinc, and 8.7% of titanium, alongside other valuable resources.
The region’s vast, underexplored reserves of rare earths, uranium, lithium, and graphite are now attracting high-level investment and diplomatic engagement from Brussels, Washington, Beijing, and Moscow. But this newfound attention brings both opportunity and complexity.
Countries like Kazakhstan and Uzbekistan are taking proactive steps to develop their mining sectors, modernize regulatory frameworks, and attract sustainable investment.
The EU’s Global Gateway Strategy and strategic partnerships — including recent MoUs and a €12 billion investment package — reflect Europe’s commitment to building ethical, resilient CRM value chains in the region.
As global demand for critical raw materials (CRMs) surges—driven by clean energy, EVs, and defense—Central Asia is fast becoming a key frontier for strategic investment.
For decades, the region supplied raw ores with limited local processing. Today, this is changing.
Kazakhstan and Uzbekistan are now top EBRD investment destinations, attracting nearly €2 billion in 2024 alone. European and U.S. firms are entering exploration, mining, and processing, with projects in:
• Lithium (Kazakhstan) – HMS Bergbau AG investing up to $500M
• Graphite (Kazakhstan) – EBRD takes equity in Sarytogan Graphite
• Uranium (Uzbekistan) – Orano signs long-term development agreement
• Copper smelting (Uzbekistan) – €146M in German-backed financing
But strategy isn’t just about extraction. It’s about:
• Scaling local processing
• Building industrial capacity
• Creating vertically integrated value chains
Yet challenges persist: outdated infrastructure, lack of local processing capacity, and environmental and social risks must be addressed to avoid a new form of extractive dependency.
True success lies in value-added development, local ownership, and regional cooperation — not merely in supplying raw exports.
Central Asia is not a passive player in this race. Its “multi-vector” foreign policies reflect a strategic balancing act, seeking to diversify partnerships and protect sovereignty.
Central Asia is no longer just a raw materials provider—it’s positioning itself as a regional value hub. This means real opportunity for businesses in logistics, equipment, engineering, finance, and industrial services.
The competitive edge will go to partners that deliver more than capital. Those that invest in skills, local ecosystems, and infrastructure will unlock long-term returns and regional resilience.
Vladimir Norov is the Former Foreign Minister of Uzbekistan (2006-2010, 2022), SCO Secretary General (2019-21); Ambassador of Uzbekistan to Germany, Poland, Switzerland (1998-2003); BENELUX, EU & NATO (2004-06, 2013-17). This write-up is taken from his Linkedin account. /// nCa, 20 May 2025