Kazakhstan to ramp up rare-earth metals production

Kazakhstan is set to increase investment in production of rare and rare-earth metals, Kazinform News Agency quotes Minister of Industry and Construction Kanat Sharlapaev as saying at the governmental hour in the Majilis.

According to him, the country’s comprehensive plan of rare and rare-earth metals industry development for 2024-2028 has already been approved. Under the plan, the volume of investment and production will be increased by 40%.

“The state’s foreign economic policy plays a key role here. The ministry has set up cooperation with the European Union, the U.S. and Great Britain,” Sharlapaev said.

He reminded of the agreements on joint exploration of lithium deposits with Germany's HMS Bergbau ($500 million), processing of recoverable resources together with Britain's Maritime House Ltd) and rare-earth, critical metals with American company Cove Capital LLC.

In his words, the Ministry sets a goal of expanding the mineral resources base, attraction of up-to-date technologies, expansion of the existing production.

"The main thing is to strengthen Kazakhstan’s role in the middle link of the global value chains," he said.