Kazakhstan’s state mining company, Tau-Ken Samruk, and US-based Cove Capital are set to begin geological exploration at the Akbulak site in the Kostanai Region, targeting the discovery of rare earth elements in a significant international venture.
“This initiative reflects our commitment to modernising industry and infrastructure while building a research base capable of supporting high-technology sectors,” said a spokesperson for the Samruk Kazyna Sovereign Wealth Fund.
The exploration forms part of a wider strategic partnership between the firms, focusing on advancing high-potential industries. In line with this, Kazakhstan aims to overhaul its production capabilities, introduce advanced processing technologies, and further strengthen its scientific foundation.
According to the Ministry of Industry and Construction, rare and rare-earth metals contribute 2.4% of the nation’s metallurgy output. Since 2018, the government has allocated 67 billion tenge (£114 million) to support the industry. Large-scale geological surveys are ongoing, with 25 sites across 100,000 square kilometres and 38 promising mineral deposits identified in 2024 alone.
Currently, Kazakhstan produces a wide array of strategic metals including beryllium, tantalum, niobium, scandium, titanium, rhenium, and osmium, with by-products such as bismuth, antimony, selenium, and tellurium. Technologies for extracting gallium and indium are also in place. Future economic opportunities are seen particularly in the production and recycling of battery materials, heat-resistant alloys, semiconductor materials, and permanent magnets.
