Kazakhstan plans to attract nearly 12 billion tenge (approx. $26.7 million) in investments to develop its rare earth and critical mineral deposits, according to the Ministry of Industry and Construction. Currently, the country does not produce rare earth raw materials, but it extracts critical metals such as beryllium, tantalum, niobium, fluorspar, titanium, rhenium, vanadium, antimony, bismuth, scandium, phosphorus, coking coal, bauxite, barite, copper, magnesium, tellurium, and manganese.
The ministry highlighted cobalt, tungsten, lithium, and other battery and magnet metals as key priorities. Kazakhstan has 56 cobalt deposits and 21 tungsten deposits, with one tungsten mining project already underway in the Almaty region with foreign investors. Additionally, there are seven lithium deposits, with two mining and processing initiatives in progress.
To boost production, Kazakhstan has developed a comprehensive 2024-2028 plan, focusing on resource expansion, extraction technologies, production modernization, and new standards. Over the next four years, 11.79 billion tenge will be invested in exploration and development, funded by the state budget and other sources.
The country also aims to enter the battery materials supply chain. In 2024, Kazakhstan began processing manganese sulfate, capturing 5% of the global market. Future projects include processing cobalt, lithium, tin, and tungsten. A joint venture with a German company is exploring lithium deposits, with potential $500 million investments if reserves are confirmed.
Other collaborations include a Kazakh-British project in Zhezkazgan to process heat-resistant nickel alloys for rhenium extraction, and a Chinese-funded initiative to produce tungsten trioxide.
Kazakhstan is already a leading producer of titanium, beryllium, and tantalum and seeks technology transfer partnerships for further growth. Recently, Foreign Minister Murat Nurtleu discussed strategic cooperation with U.S. Secretary of State Marco Rubio, particularly in energy and critical minerals.
Meanwhile, President Kassym-Jomart Tokayev has emphasized the need to develop “new oil” deposits—referring to rare earth metals—as a national priority.
