On February 24, Traxys Group, a leading U.S. company in international commodity trading, held negotiations with Uzbekistan's Minister of Mining and Geology Bobir Islamov, Director of the state enterprise "Navoiyuran" Jamol Fayzullayev, and Director of the Uzbek Technological Metals Combine Farhod Abdullayev. This was reported by the company's regional headquarters for Central Asia.
The meetings discussed the implementation of long-term off-take contracts, financing for geological exploration, introduction of advanced processing technologies, and expansion of participation by international financial institutions.
These agreements mark the beginning of a new phase of strategic importance for Uzbekistan's industrial policy. The initiative is not limited to the search and extraction of rare minerals. The key goal is to develop deep processing, create high value-added products, and form a competitive export system in the global market.
On November 5, 2025, during the official visit of President of Uzbekistan Shavkat Mirziyoyev to the U.S., a cooperation agreement was signed between the Ministry of Mining and Geology and Traxys Group. The document provides for long-term supplies of natural uranium until 2030. The total value of the contracts is $1.7 billion.
On February 18, 2026, during the working visit of the President of Uzbekistan to the U.S., at a meeting with Traxys Group management, the company announced its decision to open a regional office for Central Asia in Tashkent. This decision aims to institutionalize cooperation, coordinate investment projects, and accelerate the implementation of joint programs in the field of strategic minerals.
Traxys Group operates in over 20 countries, with dozens of international offices in the U.S., Europe, Asia, and the Middle East. The company's annual trade turnover is approximately $10 billion, and it is among the world leaders in uranium and strategic mineral supplies.
The company is recognized as a reliable supplier of critical minerals for the U.S. Government and closely cooperates with international financial institutions such as the U.S. International Development Finance Corporation (DFC) and Export-Import Bank of the United States (EXIM Bank). This opens opportunities for Uzbekistan not only to ensure a stable sales market but also to attract modern technologies, financial resources, and international expertise.
Traxys Group's partner in Central Asia is Temurbek Hikmatullayev, who will head the regional office in Tashkent. According to him, the company will purchase products from the Uzbek Technological Metals Combine based on long-term off-take contracts and will introduce mechanisms for pre-financing future supplies. Additionally, the company will participate in joint investment projects in exploration, extraction, and processing with the involvement of international technical and financial expertise.
Currently, the ceremonial opening of Traxys Group's first regional office in Central Asia has taken place in Tashkent. The ceremony was attended by representatives of the company's management.
Source: kun.uz