Condor Energies has received a second mining licence in Kazakhstan, the Kolkuduk licence, covering 6,800 hectares, which enables exploration for critical minerals. The licences are located in a geothermally active region that may contain significant lithium and other minerals. CEO Don Streu emphasized the strategic importance of these resources for national security and economic stability. Ivanhoe Mines has also formed a joint venture for copper mining in Kazakhstan.
Condor Energies, a Canadian company focused on energy transition, has been granted a second critical minerals mining licence by Kazakhstan’s mining ministry. This Kolkuduk licence spans 6,800 hectares and allows the company a six-year term for solid mineral exploration. It is strategically located near Condor’s existing 37,300-hectare Sayakbay licence in a geothermally active region.
The area is known for facilitating the migration of mineralised brines into reservoirs and provides direct access to critical minerals markets between Europe and China. The Ministry of Geology of Kazakhstan reports that a previous well in the Kolkuduk area for hydrocarbon exploration revealed brine deposits with lithium concentrations reaching 130mg per litre. Additionally, historical data shows a 1,000-meter column of brine reservoirs that may contain rubidium, strontium, and cesium.
Don Streu, Condor Energies’ president and CEO, remarked that the company’s focus on critical minerals aligns with the increasing global emphasis on developing secure supply chains. He noted that Kazakhstan is among the selected countries prioritizing mineral production, emphasizing the importance of critical minerals for national security and economic prosperity. He stated, “Condor’s expanding critical mineral initiatives complement our existing Uzbekistan natural gas production enhancement project.”
Streu further highlighted that these initiatives position Condor Energies as a supplier of reliable energy and mineral resources in the geopolitically significant central Asian region. This strategic approach is expected to diversify the company’s revenue streams, sustaining performance amidst fluctuating economic conditions. In related developments, Ivanhoe Mines has partnered with UK-based Pallas Resources to explore the Chu-Sarysu copper basin in Kazakhstan.
In conclusion, Condor Energies has successfully secured its second critical minerals mining licence in Kazakhstan, positioning itself favorably within a critical minerals market essential for global supply chains. With the strategic location of its licences and the promising minerals aligned with national interests, the company is set for growth in a vital geographical region. This move not only enhances its product offerings but also contributes to the company’s resilience in the face of global economic fluctuations.
Original Source: www.mining-technology.com
