Kazakhstan is advancing its rare-earth metals sector by signing agreements with several countries and initiating lithium exploration projects, including an $8 million investment in the Akhmetkino deposit. Furthermore, a tungsten processing plant will begin operations in 2024 with a $300 million investment, indicating significant growth in the mining sector.
Kazakhstan’s Ministry of Industry and Construction has unveiled new initiatives aimed at exploring and extracting rare and rare-earth metals, as reported by Kazinform. The country has entered strategic agreements with notable international partners, including the European Union, the United Kingdom, South Korea, Japan, and China, to bolster its mining and production sectors.
Notably, German firm HMS Bergbau AG is spearheading geological exploration at the Akhmetkino lithium deposit, with an investment commitment of $8 million. Should the reserves prove viable, overall investment is projected to potentially reach $500 million.
In addition to its lithium initiatives, Kazakhstan is also enhancing its tungsten production capabilities. A tungsten processing facility is set to commence operations in the Almaty Region on November 1, 2024. This project, which has a total investment value of $300 million, has seen the completion of its mining and beneficiation complex, with commissioning activities underway for mining operations.
Kazakhstan is making significant strides in the exploration and extraction of rare and rare-earth metals, with a focus on lithium and tungsten. Collaborating with international partners, the country anticipates substantial investments, projecting $500 million for lithium if reserves are confirmed and $300 million for tungsten production. These developments illustrate Kazakhstan’s commitment to enhancing its mining sector and contributing to the global supply of valuable resources.
Original Source: astanatimes.com
