Uzbekistan's TMK Emerges as Global Challenger in Critical Raw Materials
In a world increasingly reliant on critical raw materials (CRMs) for everything from clean energy to semiconductors, one enterprise in Central Asia is reshaping global supply dynamics. The Uzbekistan Technological Metals Complex (TMK), a state-owned enterprise formed by presidential decree in 2024, is rapidly becoming a global force in the CRM ecosystem.
With over 70 mining and metals projects spanning 25+ CRM commodities, TMK has emerged as one of the most diversified and vertically integrated CRM developers outside of dominant supply chains. It combines upstream extraction, midstream metal production, and downstream manufacturing, TMK is an industrial complete value chain rare even among global majors.
“TMK was born out of global necessity and was established with the incredible vision of our President Shavkat Mirziyoyev,” said Farhod Abdullaev, Chairman of TMK. “President realized that while demand for CRMs was rising exponentially, no one was stepping up on the supply side. TMK is our answer; not just for Uzbekistan, but for the world.”
“TMK was not designed to be just a mining company,” said Han Ilhan, International Advisor to the Chairman of TMK. “It is Uzbekistan’s industrial response to global CRM insecurity. We’re already operational in the areas of mining, refining, producing, and exporting products. Our vision is to make Uzbekistan a central node in the global CRM supply chain.”
Addressing a Global Supply Chain Vulnerability
The urgency could not be clearer. As Ilhan and others have emphasized in international forums, over 80% of CRM processing is concentrated in a single country, creating a single point of failure in global industrial ecosystems.
Governments across the U.S., EU, UK, Japan, and Korea are scrambling to diversify supply chains. Yet most current initiatives are slow, fragmented, and resource constrained. TMK offers something rare: scale, state support, and shovel-ready projects.
From Mine to Manufacturing
TMK’s operations already span the full value chain:
- Upstream: Mines like Ingichka are producing tungsten concentrate, with new deposits being developed.
- Midstream: Refining capacity is growing, with production of molybdenum, rhenium, tungsten, selenium, and tellurium metals already underway.
- Downstream: TMK manufactures finished products including hard alloys, tungsten wires, drill bits, and cutting tools—all from in-house supply.
But what sets TMK apart is its CRM Hub Concept, a bold strategy to build centralized midstream processing hubs linked to Special Economic Zones (SEZs) known as TechnoParks. These SEZs are designed to attract end-users, including key components for manufacturers of batteries, aerospace, automotive, semiconductors, and even medical industries, to co-locate next to the midstream facilities, thereby simplifying logistics and cutting costs.
State Support and Strategic Capital
Backed by a $200 million equity commitment from the Uzbekistan Reconstruction and Development Fund, TMK enjoys strong government support and streamlined permitting advantages as a state-owned enterprise. This ensures faster execution compared to private sector peers.
Opening the Door to Global Partnerships
TMK is actively seeking international partners, whether government agencies, technology providers, end-users, investors, or industrial players. With a mature governance structure, commitment to international ESG standards, and a fully integrated value chain, TMK presents an attractive proposition for countries and companies alike looking to diversify away from dominant suppliers.
“The message is simple,” adds Ilhan. “TMK is open for business—ready to partner, ready to scale, and ready to deliver.”
