KIGAM intends to develop lithium deposit in E Kazakhstan region

Korea Institute of Geoscience and Mineral Resources (KIGAM) has indicated its willingness to commence the development of a substantial lithium deposit in the East Kazakhstan region in 2025. Kanat Sharlapaev, the Kazakh Minister of Industry and Construction, has stated what type of an agreement the Government will conclude with the potential investor, Kazinform News Agency reports.

“A geological study of these reserves is currently in progress. Thus far, no confirmation has been obtained regarding the existence of these reserves. Once the Korean investor has provided confirmation, a discussion will ensue regarding the proposed development plan. In this case, we are discussing the matter somewhat prematurely," Kanat Sharlapaev stated.

The Minister highlighted that the lithium discovery does not automatically guarantee the technical feasibility of its extraction.

“In order for extraction to be economically viable, a significant amount of work is required. For instance, there is the assessment of the likelihood of the project's viability, conducted by professional geologists and technologists. There is also the technique of economic feasibility studies, as well as tasks to implement engineering solutions. I would not celebrate too early until we have proven the reserves, demonstrated their technical recoverability, and then we will revisit this discussion," Kanat Sharlapaev added.

It should be mentioned that the Head of State Kassym-Jomart Tokayev was informed about the exploration work on the Bakennoe deposit in the East Kazakhstan region, conducted by KIGAM in June 2024.

In light of the significance of lithium mining, along with its subsequent processing and production of high-value added products, the President put forth a proposal for potential collaboration based on a pragmatic formula of "investments and technologies in exchange for raw materials."