Kazakhstan is launching new projects for rare and rare-earth metals, with $8 million allocated for lithium exploration and $300 million for tungsten production. Strategic agreements with several nations will support these efforts, potentially leading to a total investment of $500 million if reserves are confirmed.
Kazakhstan’s Ministry of Industry and Construction has unveiled plans to pursue new projects focused on the exploration and extraction of rare and rare-earth metals. The nation has established strategic partnerships with the European Union, the United Kingdom, South Korea, Japan, and China to enhance its mining and production capabilities in this sector.
In this endeavor, German firm HMS Bergbau AG is undertaking geological exploration at the Akhmetkino lithium deposit, with an investment of approximately $8 million allocated for this initiative. The ministry anticipates that the overall investment could escalate to as much as $500 million, contingent on the validation of reserves.
Alongside the lithium exploration, Kazakhstan is also advancing its tungsten production industry. A tungsten processing facility is scheduled to commence operations on November 1, 2024, in the Almaty Region. The completion of a mining and beneficiation complex has been achieved, and commissioning activities for the mining operations are currently in progress, reflecting a project investment of $300 million.
Kazakhstan’s strategic focus on rare and rare-earth metal projects signifies its commitment to bolstering its mining sector through significant investments. The collaboration with international partners and the advancement in lithium and tungsten production are expected to enhance the country’s economic standing and resource management.
Original Source: astanatimes.com
