Uzbekistan’s Gold Rush: Economic Reform Spurs Prospectors

Recent economic reforms in Uzbekistan have sparked a modern-day gold rush, with hundreds of prospectors seeking their fortunes in the country’s rich deposits of the precious metal. Formerly reserved for state mining firms, regulatory changes now allow anyone to hunt for gold, leading to a surge in activity across regions like Navoi.

President Shavkat Mirziyoyev aims to increase gold production by 50% by 2030, recognizing the potential of the country’s largely unexplored subsoil. While the gold rush brings economic opportunities, concerns arise over environmental impacts and land use conflicts with traditional sectors like agriculture. Nevertheless, the influx of prospectors provides employment opportunities and contributes to Uzbekistan’s growing economy, driven by exports of gold traded through the central bank.