Kazakhstan’s Ministry of Industry has launched initiatives for rare-earth metal exploration, signing agreements with several countries and initiating an $8 million lithium project with HMS Bergbau AG. Potential total investments in this sector may reach $500 million. Additionally, the country is set to expand tungsten production with a $300 million process plant launching in November 2024.
The Kazakh Ministry of Industry and Construction has revealed plans to explore and extract rare and rare-earth metals, as reported by Kazinform. This initiative includes strategic agreements with the European Union, the United Kingdom, South Korea, Japan, and China aimed at enhancing Kazakhstan’s capabilities in the rare metals sector.
As part of these expansion efforts, German company HMS Bergbau AG is undertaking geological exploration at the Akhmetkino lithium deposit, with an investment of approximately $8 million. The ministry forecasts that total investments in this sector could escalate to $500 million, contingent on the confirmation of reserves.
Furthermore, Kazakhstan is increasing its production of tungsten, with a new processing plant set to commence operations on November 1, 2024, in the Almaty Region. The construction of a mining and beneficiation complex has been completed, and the project, valued at $300 million, is currently in the commissioning phase for mining operations.
In conclusion, Kazakhstan is actively pursuing the exploration and extraction of rare and rare-earth metals through international partnerships and significant investments. The $8 million lithium exploration initiative at the Akhmetkino deposit marks a strategic step towards expanding Kazakhstan’s rare metals sector. Additionally, the launch of a tungsten processing plant indicates a robust expansion into metal production, enhancing the country’s economic prospects.
Original Source: astanatimes.com
