Condor Energies has obtained a second critical minerals mining licence in Kazakhstan covering 6,800 hectares. This licence, near its existing Sayakbay licence, allows for six years of exploration. The region exhibits significant mineral potential, including lithium deposits. The company’s initiatives align with global efforts for sustainable mineral supply chains and highlight Kazakhstan’s strategic importance in the mineral sector.
Condor Energies, a Canadian energy transition company, has successfully secured a second critical minerals mining licence from Kazakhstan’s government. The Kolkuduk licence encompasses 6,800 hectares and permits a six-year exploration of solid minerals. This new licence is in proximity to Condor’s existing 37,300 hectare Sayakbay licence, enhancing their operational footprint in the region.
Both licences are strategically situated in a geothermally active and fault-heavy area, which has naturally facilitated the migration of mineralised brines into geological reservoirs. Furthermore, these locations offer advantageous access to critical minerals markets, effectively bridging Europe and China.
The Ministry of Geology of Kazakhstan reported that a previous drilling well within the Kolkuduk licence area revealed brine deposits with lithium concentrations reaching 130mg per litre. Historical assessments also suggest the presence of a substantial 1,000-meter column of brine reservoirs, enriched with other minerals such as rubidium, strontium, and cesium.
Don Streu, the president and CEO of Condor Energies, emphasized the company’s commitment to developing critical minerals in Kazakhstan. He stated, “Condor’s focus on developing critical minerals in Kazakhstan aligns with the strategic focus of multiple countries to accelerate the development of diverse, secure and sustainable supply chains of critical minerals.”
Streu further noted, “Kazakhstan is one of the select group of minerals-producing countries identified as strategic to these efforts… It positions the company to realise multiple revenue streams that should remain robust across varying economic conditions and geopolitical priorities.” In related developments, Ivanhoe Mines has initiated a joint venture with UK-based Pallas Resources to explore the Chu-Sarysu copper basin in Kazakhstan.
In summary, Condor Energies has strengthened its position in Kazakhstan by acquiring a second critical minerals mining licence. This expansion aligns with global strategies to secure and diversify mineral supply chains, particularly in light of the geopolitical significance of the region. Condor’s initiatives, alongside those of Ivanhoe Mines, underline the growing importance of critical minerals in today’s economy.
Original Source: www.mining-technology.com
