Mirziyoyev: Uzbekistan’s Natural Resources Valued at Up to $79,000 Per Person
Uzbekistan’s vast underground wealth has drawn renewed attention following the release of an international ranking of countries by natural resource value per capita, as reported by Uzbek publication Zamin. According to the ranking, Saudi Arabia tops the list, with natural resources valued at approximately $1 million per person, driven largely by its extensive oil reserves. Canada and Australia follow, each exceeding $700,000 per capita, supported by a combination of oil, forests, minerals, iron ore, coal, and natural gas. Russia ranks fourth, with more than $520,000 in resources per person. Although accurately assessing Uzbekistan’s total natural resource value remains difficult due to fluctuating global commodity prices and ongoing geological exploration, the country's long-term potential is considered substantial. In July 2018, Azam Qadirhodjayev, then Deputy Chairman of Uzbekistan’s State Committee for Geology and Mineral Resources, estimated the total potential value of the country’s mineral resources at approximately $5.7 trillion. Of this, over $1 trillion stemmed from explored and currently developed deposits. At the time, only about 20% of Uzbekistan’s territory had been fully studied, leaving considerable room for new discoveries. Additional details were provided in December 2023, when Ilyos Jumayev, a representative of the Ministry of Mining Industry and Geology, announced at a press conference that Uzbekistan officially possesses 101 gold deposits and three silver deposits. According to the ministry, the country holds nearly all mineral types found globally, including gold, silver, copper, uranium, oil, natural gas, lithium, molybdenum, tungsten, manganese, nickel, cobalt, tantalum, and niobium. Major gold reserves serve as the raw material base for the Navoi and Almalyk mining and metallurgical complexes, while copper deposits are primarily located in the Tashkent region. The value of Uzbekistan’s natural resources was also a key topic at the Tashkent International Investment Forum in June 2025. President Shavkat Mirziyoyev stated that the country’s underground wealth is valued at approximately $3 trillion. He emphasized that the global demand for technological minerals is rising amid the fourth industrial revolution and identified strategic reserves of lithium, tungsten, magnesium, graphite, titanium, and vanadium as vital for developing high value-added industries. Based on the president’s $3 trillion estimate and Uzbekistan’s current population of roughly 38.24 million, the per capita value of natural resources stands at approximately $78,000 to $79,000. While lower than the per capita resource wealth in countries like Saudi Arabia or Canada, officials argue that incomplete geological surveying leaves room for this figure to grow. Uzbekistan’s resource base includes not only precious and rare earth metals but also energy resources such as oil and natural gas, underscoring the country’s strategic position in the global minerals landscape.
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