The demand for rare and rare earth elements is on the rise, with the global market for rare earth minerals expected to exceed $7.2 billion by 2025 and reach $12.6 billion by 2035, according to World Bank analysts. This marks a significant increase of nearly 46% in global demand from 2020 to 2025, with China currently dominating the market. The success of China’s long-term strategy has positioned it as a key player in the global supply chains of these critical resources, prompting resource-rich Kazakhstan and other Central Asian countries to take proactive measures.
Kazakhstan, with estimated reserves of approximately 28.2 million tonnes of rare earth metals, has the potential to become a significant player in this sector. However, much of these resources need further exploration and confirmation. The country boasts over 9,000 mineral deposits, with around 100 containing rare and rare earth elements. Despite this extensive resource base, Kazakhstan faces challenges in realising its potential amidst high global competition, a lack of necessary technologies, and funding.
To navigate these challenges, a well-coordinated mechanism is required that balances all stages of the process: exploration, attracting investment, government support measures, scientific research, mining, and processing. Prime Minister Olzhas Bektenov highlighted the importance of critical minerals as key resources in the new industrial era during his speech at the XVI International Mining and Metallurgy Congress Astana Mining & Metallurgy – 2026 (AMM) in June. He noted that Kazakhstan’s significant mineral resource potential could secure the country a prominent position in these processes.
In April, discussions on how Kazakhstan can maximise its benefits from the growing international interest in critical minerals took place at the Minex Kazakhstan – 2026 mining and geological forum. Experts shared insights on China’s experiences and strategic proposals from investors in other countries, underscoring the importance of collaboration and strategic planning in the development of Kazakhstan’s mining sector.
