BAKU, Azerbaijan, July 22. Uzbekistan's
Uzmetkombinat and the U.S. International Development Finance
Corporation (DFC) have held preliminary talks on potential
financing for the Tebinbulak iron ore project, one of the country's
largest mining and metallurgy initiatives.


This was reflected in the statement by the Uzmetkombinat
following a meeting between a delegation led by Chairman and Chief
Executive Officer Bahodir Abdullayev, representatives of Standard
Chartered Bank, and DFC officials in New York.


The sides discussed the strategic importance of the Tebinbulak
iron ore deposit for Uzbekistan's metallurgical industry, including
its role in reducing the country's reliance on imported iron ore,
strengthening the domestic raw materials base and expanding
industrial production capacity.


"The parties agreed to consider financing opportunities for the
project, expand cooperation with international financial
institutions and continue negotiations," Uzmetkombinat said in a
statement.


According to the company, DFC representatives noted that the
Tebinbulak project could play an important role in enhancing
Uzbekistan's economic resilience and diversifying supply chains,
reflecting growing international interest in strategic mineral
development projects.







The meeting also explored potential mechanisms for mobilizing
long-term financing, with Standard Chartered Bank participating in
the discussions alongside the Uzbek delegation and DFC
officials.


The Tebinbulak deposit, located in northwestern Uzbekistan, is
regarded as one of the country's largest iron ore resources and
forms a key part of the government's strategy to modernize the
domestic steel industry. Developing the project is expected to
increase local production of raw materials, reduce import
dependence, and support higher-value-added manufacturing within
Uzbekistan.


The talks mark another step in Uzmetkombinat's efforts to
attract international partners and financing for the project as the
company seeks to advance one of the country's flagship industrial
investments. Broader participation by international financial
institutions could strengthen the project's investment profile
while supporting Uzbekistan's long-term objective of expanding
domestic metals production and building more resilient industrial
supply chains.