Kazakhstan Expands Rare-Earth Metal Projects with $8 Million Lithium Exploration
Kazakhstan’s Ministry of Industry and Construction has initiated new projects for the exploration and extraction of rare and rare-earth metals, including a significant $8 million lithium exploration with HMS Bergbau AG. The country is expanding its tungsten production with a new processing plant valued at $300 million, as it collaborates with international partners to develop its mining sector.
Kazakhstan has initiated new projects aimed at the exploration and extraction of rare and rare-earth metals, as announced by the Kazakh Ministry of Industry and Construction. These projects are supported by strategic agreements with the European Union, the United Kingdom, South Korea, Japan, and China to enhance the country’s mining sector.
The German company HMS Bergbau AG has commenced geological exploration at the Akhmetkino lithium deposit with an investment of $8 million, reflecting Kazakhstan’s commitment to lithium extraction. Should reserves be confirmed, total investments in this venture could potentially reach $500 million.
In conjunction with lithium efforts, Kazakhstan is also advancing its tungsten production capabilities. A tungsten processing plant is set to begin operations on November 1, 2024, in the Almaty Region. The construction of a mining and beneficiation complex has been completed, and preparations for mining operations are currently in progress. The estimated value for this tungsten development project is $300 million.
In conclusion, Kazakhstan is significantly enhancing its rare and rare-earth metal mining sector through strategic partnerships and sizable investments. The exploration of lithium at the Akhmetkino deposit and the expansion of tungsten production underscore the country’s dedication to developing its mineral resources, which may yield substantial economic benefits in the future.
Original Source: astanatimes.com
