Kazakhstan Boosts Rare-Earth Metal Projects with $8 Million Lithium Exploration
Kazakhstan Expands Rare and Rare-Earth Metal Exploration and Production Projects
Astana – The Kazakh Ministry of Industry and Construction has unveiled new projects aimed at exploring and extracting rare and rare-earth metals, according to reports from Kazinform.
The country has entered into strategic agreements with the European Union, the United Kingdom, South Korea, Japan, and China to enhance its rare and rare-earth metal mining and production sector. As part of these efforts, German company HMS Bergbau AG is currently conducting geological exploration at the Akhmetkino lithium deposit, with an estimated investment of $8 million. The ministry anticipates that the total investment could reach $500 million once reserves are confirmed.
In addition to lithium exploration, Kazakhstan is also ramping up its tungsten production. On November 1, 2024, a tungsten processing plant was inaugurated in the Almaty Region. The construction of a mining and beneficiation complex has been finalized, and preparations for mining operations are currently in progress. The project holds a value of $300 million.
These new ventures signify Kazakhstan’s commitment to expanding its presence in the global rare and rare-earth metal market, attracting foreign investments, and bolstering its economy through diversification and innovation.
