Kazakhstan’s Ministry of Industry and Construction has unveiled new projects aimed at exploring rare and rare-earth metals, specifically lithium. With an $8 million investment from HMS Bergbau AG for the Akhmetkino lithium deposit, potential total investments could reach $500 million. The country is also launching a tungsten processing plant in 2024, valued at $300 million.
In a significant development, the Kazakh Ministry of Industry and Construction announced plans to expand its rare and rare-earth metal projects, particularly focusing on lithium extraction. This initiative includes establishing strategic partnerships with various global stakeholders, including the European Union, the United Kingdom, South Korea, Japan, and China. As part of these initiatives, German firm HMS Bergbau AG is spearheading geological exploration at the Akhmetkino lithium deposit, committing an investment of $8 million. Should reserves be confirmed, total investments for the project may reach as high as $500 million.
Moreover, Kazakhstan is also enhancing its tungsten production capabilities. On November 1, 2024, the nation will inaugurate a new tungsten processing facility in the Almaty Region. The construction of an associated mining and beneficiation complex has been finalized, and preparations for mining operations are currently progressing. The value of this tungsten project is estimated at $300 million.
Kazakhstan is actively pursuing expansion in its rare and rare-earth metal sectors, with significant investment in lithium and tungsten production. With strategic agreements in place and substantial financial commitments, the country is positioning itself as an emerging player in the global rare-earth metal market. These developments signal ongoing growth and the potential for increased investments in Kazakhstan’s mining and production capabilities.
Original Source: astanatimes.com
