Traxys Expands to Tashkent and Riyadh to Supply Critical Minerals
Commodity trader and financier Traxys has opened an office in Tashkent with about 10 staff and expanded its presence in Riyadh, Saudi Arabia, as part of a global push to service growing demand for critical minerals, founder and CEO Mark Kristoff told Reuters on October 29, 2026, at the International Mining and Resources Conference (IMARC) in Sydney, Australia.
The firm is targeting sourcing opportunities across Eurasia, specifically naming Uzbekistan, Kazakhstan, Tajikistan, and Kyrgyzstan as interesting potential suppliers, according to Reuters. Uzbek President Shavkat Mirziyoyev also received Kristoff to discuss further expanding their partnership on critical minerals and advanced raw material processing, UzDaily.uz reported.
Projects in Uzbekistan and Central Asia
Cooperation between Uzbekistan and Traxys has reached a new level over the past year through contractual agreements and the establishment of the Tashkent regional office, its first in Central Asia, UzDaily.uz reported. A key focus for the partnership involves joint projects to process critical minerals more deeply and manufacture high-value-added industrial products using United States technologies.
Traxys specializes in the supply of critical raw materials and minerals, handling procurement, logistics, financing, and marketing for metals and minerals across more than 20 countries, per UzDaily.uz. The company’s expansion into Central Asia runs parallel to its broader global network of 26 offices.
Traxys Pursues Middle East Energy and Processing Opportunities
Traxys established its Riyadh office last year and continues to view the Middle East as an attractive region for semi-finished processing opportunities, Kristoff told Reuters, noting that available competitive energy pricing and supporting infrastructure drive that interest despite challenges related to the US-Israeli war with Iran. Governments worldwide are channeling billions into critical minerals to diversify supply chains away from dominant producer China.
Reuters reported in February that a Trump administration official familiar with the plan stated Traxys was among several commodity traders tapped by the US government to manage raw material procurement for a $12 billion strategic reserve of critical minerals.
Footprint Expansion in Africa and South America
In addition to its existing offices in Cape Town, South Africa, and Harare, Zimbabwe, Traxys is evaluating opportunities in East and Central Africa that could open new sources of tantalum, tungsten, and nickel, Kristoff told Reuters. The company has also increased its presence in Peru to complement operations in Brazil and Mexico City, while considering further expansion into South American jurisdictions like Bolivia and Argentina.
Geopolitical uncertainty has complicated decision-making for industrial end users lacking internal institutional knowledge or networks, creating new business opportunities for established traders, Kristoff told Reuters.
Staff Counts and Revenue Figures for Traxys Offices
How many staff members does the new Tashkent office have?
The Tashkent office operates with approximately 10 staff members, according to Reuters.
When was the Riyadh office established?
Traxys established its office in Riyadh, Saudi Arabia, last year, Reuters reported.
What is the total revenue and staff size of Traxys?
Traxys has grown to a $12 billion revenue company with 550 staff members globally, of whom 150 hold equity stakes, according to Reuters.
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