Korean scientists, as reported by Tengrinews.kz citing The Korea Times, have made a significant discovery of a lithium deposit in Kazakhstan. The Korean Institute of Geoscience and Mineral Resources (KIGAM) identified the deposit, covering 1.6 square kilometers, located in eastern Kazakhstan. This discovery follows research conducted by the institute since May of the previous year, initiated by the Kazakh government, considering the presence of tantalum alongside lithium and cesium in the region.
The estimated value of the discovered lithium resources stands at approximately $15.7 billion. Notably, the lithium content in the area reaches 5.3 percent, as analyzed by a Canadian agency, surpassing that of lithium mined in Western Australia, which stands at 2.1 percent.
Lithium holds crucial significance for the electric vehicle industry and various modern productions, being a primary component of batteries.
KIGAM intends to secure drilling rights for the deposit to commence lithium mining operations next year. However, specific details regarding the company’s involvement remain undisclosed at present.
Further details are currently being clarified with the Ministry of Ecology and Natural Resources.
It’s worth recalling that in September of the preceding year, President Kassym-Jomart Tokayev highlighted in his Address to the Nation the importance of developing rare and rare-earth metal deposits, positioning them as the “new oil” and emphasizing their significance in determining the global trajectory of technological progress. As part of this vision, the Head of State instructed to grant a three-year tax exemption to both domestic and foreign investors in the geological industry sector.
