What countries showing interest in rare metals in Kazakhstan

The Kazakh foreign ministry notes growing interest in rare earth metals for high-tech sectors such as electronics, magnet and batteries manufacturing, Kazinform News Agency correspondent reports.

Foreign investors from Germany, South Korea, China, the US and Great Britain already offered to enhance cooperation in the field of rare earth metals. Japan, Indonesia and France seek to establish relations in this area. As part of the work done, Kazakh Invest national company attracted a number of foreign companies to this field. A mining and processing plant to refine tungsten at the deposit in Almaty region is set to be commissioned by the end of 2024. The amount of investments is to total 350 million US dollars, informed the country’s foreign ministry in its response to the Kazinform News Agency’s inquiry.

Several investment agreements are confidential, the ministry added.

It’s worth to note the significant growth in investments regarding the existing projects on rare earth elements and metals. Presently, under these projects exploration of elements such as lithium, yttrium, molybdenum, vanadium and niobium is underway, said the ministry.