Condor Energies Secures Second Critical Minerals License in Kazakhstan

Condor Energies has obtained a second critical minerals mining license in Kazakhstan, known as the Kolkuduk license, expanding its operational footprint in a geologically active area. This license allows for a six-year exploration period and is strategically positioned to access key markets in Europe and China. CEO Don Streu highlighted the alignment of these initiatives with global strategic interests in securing critical mineral supply chains.

Condor Energies, a Canadian energy transition company, has successfully secured a second critical minerals mining license from the Kazakh government. This license, known as the Kolkuduk license, encompasses an area of 6,800 hectares and is granted for a six-year period dedicated to the exploration of solid minerals. The Kolkuduk license is strategically positioned adjacent to Condor’s existing expansive 37,300-hectare Sayakbay critical minerals license.

Both licenses are located within a geologically active area characterized by significant faults that have facilitated the movement of mineralized brines into underlying reservoirs. Additionally, the geographic positioning of the licenses offers advantageous access to critical minerals markets in Europe and China.

The Ministry of Geology of Kazakhstan has reported that prior hydrocarbon exploration activities in the Kolkuduk area revealed brine deposits with lithium concentrations reaching up to 130 milligrams per liter. Historical data has also indicated the presence of a 1,000-meter column of brine reservoirs containing various minerals, including rubidium, strontium, and cesium.

Don Streu, President and CEO of Condor Energies, 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.” He further emphasized that Kazakhstan is recognized among key minerals-producing nations, playing a critical role in national security and economic prosperity through its mineral resources.

Streu highlighted that Condor’s critical mineral initiatives complement ongoing projects, such as the enhancement of natural gas production in Uzbekistan and the development of liquefied natural gas transportation in Kazakhstan. This strategic positioning aims to establish Condor as a reliable source of energy and minerals within the geopolitically essential Central Asia region, ensuring robust revenue streams amid diverse economic and geopolitical challenges.

In related developments, Ivanhoe Mines has initiated a joint venture with UK-based Pallas Resources, focusing on the exploration of the Chu-Sarysu copper basin in Kazakhstan.

Condor Energies has made significant strides in securing valuable licenses for critical minerals exploration in Kazakhstan. The recent acquisition of the Kolkuduk license, alongside its existing operations, positions the company strategically within an emerging market for critical minerals essential for global supply chains. The initiatives align with national interests in securing sustainable resource management, and the synergy with other regional projects enhances Condor’s potential for robust financial performance amidst fluctuating global conditions.

Original Source: www.mining-technology.com