MINEX Forum

Tag: Kazakhstan

  • Kazakhstan and China Deepen Nuclear and Trade Ties with $25 Billion Deal

    Kazakhstan and China Deepen Nuclear and Trade Ties with $25 Billion Deal

    Kazakhstan and China are set to ink 60 agreements worth up to $25 billion as part of a sweeping strategic partnership, solidified during the China–Central Asia Industrial and Investment Cooperation Forum held in Astana. The deals mark a new phase of cooperation, particularly in nuclear energy, infrastructure, and mineral supply chains.

    At the center of the new partnership is China National Nuclear Corporation (CNNC), which Kazakhstan has now officially designated as a strategic partner for its upcoming nuclear power plant projects. The two sides are also launching joint research into transboundary uranium ore belts, reinforcing Kazakhstan’s role as a global uranium powerhouse and a key nuclear fuel supplier to China.

    “Kazakhstan considers CNNC a reliable strategic partner,” President Kassym-Jomart Tokayev stated, highlighting CNNC’s global track record and Kazakhstan’s own dominance in uranium supply. In 2022, the country supplied 25% of U.S. uranium imports, more than twice that of Russia.

    Bilateral trade has also surged, hitting a record $44 billion in 2024, with Kazakhstan’s strategic location and mineral wealth serving as a cornerstone of China’s Belt and Road Initiative. The forum spotlighted plans to upgrade logistics corridors, expand border infrastructure, and simplify customs procedures, all part of Beijing’s wider ambition to make Kazakhstan Central Asia’s premier transit and supply hub.

    The announcement comes at a pivotal time. China’s push to build 150 nuclear reactors by 2035 — 27 of which are already under construction — is setting a new global pace in nuclear energy. Its domestic capacity, innovation leadership, and fourth-generation reactor tech, such as the recently launched Shidaowan-1 plant, are positioning Beijing to dominate nuclear exports just as it has with electric vehicles and batteries.

    This partnership could see Kazakhstan, which currently lacks any nuclear energy production, transform into a key node in China’s—and the world’s—nuclear future. With both countries leveraging uranium-rich geology and deepening geopolitical ties, this move further sidelines the West, especially the U.S., which remains heavily dependent on foreign uranium despite efforts to revive its own nuclear sector.

  • Kazakhstan’s Nuclear Two-Step: Rosatom to Build First Plant, China Likely for Second

    Kazakhstan’s Nuclear Two-Step: Rosatom to Build First Plant, China Likely for Second

    Kazakhstan has officially selected Russia’s Rosatom to build its first nuclear power plant, deepening energy ties with Moscow — but within hours, the country signaled a balancing act by revealing plans for a second plant likely to be built by China.

    In an unusual Saturday announcement on June 14, Kazakh authorities confirmed Rosatom as the winner of the long-running bid to construct the first plant in Ulken, near Lake Balkhash. The same day, the head of Kazakhstan’s nuclear energy agency, Almassadam Satkaliyev, said a second nuclear power station would likely be built by China’s state-owned China National Nuclear Corporation — the runner-up in the initial bid.

    This dual-track approach reflects Kazakhstan’s broader geopolitical strategy of maintaining equilibrium between its powerful neighbors: Russia and China. While Rosatom brings deep integration advantages — from uranium processing and cultural ties to favorable financing and waste disposal — the inclusion of a Chinese-built second plant helps offset dependence on Moscow.

    “Rosatom’s proposal does look strong in technical and financial terms,” said energy researcher Shaimerden Chikanayev. Yet, he added, the political cost of excluding China likely triggered Astana’s swift pivot.

    The Rosatom-led project is slated for completion by 2036, with a price tag of at least $15 billion. The financing details remain murky, though Kazakhstan insists it will retain ownership, distancing itself from Turkey’s Akkuyu model, where Rosatom owns the facility outright.

    The announcement landed just days before Chinese President Xi Jinping’s visit to Kazakhstan for the second China–Central Asia summit — potentially souring Beijing’s expectations of regional energy investment leadership. Political analyst Dosym Satpayev noted the timing could have left “an unpleasant aftertaste for Beijing.”

    Officials now appear eager to proceed with both reactors in parallel. Deputy Prime Minister Roman Sklyar even suggested the Chinese-built plant could be completed first, depending on the technology used.

    However, financial questions loom large. “Kazakhstan will be paying back the Russian loans for a very, very long time,” warned energy analyst Olzhas Baidildinov, with electricity tariffs likely to bear the burden.

    As Astana juggles energy security with foreign policy nuance, the outcome of its nuclear ambitions may shape the region’s balance of power for decades to come.

  • EU Urged to Prioritise ESG in Central Asia’s Raw Materials Push

    EU Urged to Prioritise ESG in Central Asia’s Raw Materials Push

    The EU must prioritize Environmental, Social, and Governance (ESG) principles in its dealings with Central Asia to secure its access to crucial raw materials, commentators warn.

    The bloc arrived in Samarkand this April with a hefty €13.2 billion Global Gateway package, signaling a desire to move beyond merely buying raw materials from the region. A significant portion, €2.5 billion, is earmarked for new mining and processing projects in Kazakhstan, Uzbekistan, and beyond. This drive is born out of necessity: the EU still relies entirely on China for its heavy rare-earth imports and faces the growing risk of vulnerability.

    While geographically late to the game, Europe has a unique advantage: a reputation for robust ESG practices. Local executives cite European partners as “a sign of quality” due to their unwavering adherence to these standards, something often lacking in Chinese or Russian counterparts. However, this edge relies on Brussels consistently embedding ESG into every euro invested. This means robust monitoring and auditing of remediation plans, transparent royalty structures, and genuine upfront consultation with local communities.

    The EU’s Critical Raw Materials Act (CRMA) sets ambitious goals: attaining 10 percent mining, 40 percent processing, and 25 percent recycling of Europe’s annual CRM demand domestically or in trusted partner states by 2030.

    Realising these goals in Central Asia necessitates investment in sustainable technologies. This includes financing water-efficient processing plants, closed-loop waste systems, and solar-powered smelters, rather than simply opening more exploitative mines.

    The EU’s efforts are beginning to take shape, with the spotlight falling on graphite. Kazakhstan’s Sarytogan deposit has been placed on the EU Commission’s list of “strategic projects” eligible for expedited permits and loan guarantees under the CRMA. Meanwhile, the European Bank for Reconstruction and Development has taken a significant stake in the mine operator, marking a direct investment in the region’s CRM sector. The EU is now actively seeking downstream investors to refine indigenous graphite into anode-grade product, capturing added value that historically flowed to Chinese refiners.

    Lithium development is following a similar trajectory. A partnership between HMS Bergbau and Kazakhstan’s Creada Corporation aims to unlock the potential of Kazakh spodumene through extraction, processing, and refining into battery-ready lithium hydroxide. This would be a direct response to the EU’s new battery-passport regulations, which require materials of a certain purity.

    However, Europe faces a formidable competitor: China. The PRC Mineral Resources Law mandates environmental remediation planning before mining commences, setting a new baseline for responsible resource extraction. While welcomed, the application details remain vague, lacking guarantees on local community engagement and enforcement mechanisms, potentially creating loopholes for exploitation.

    Adding to the pressure, Chinese capital is expanding downstream. East Hope Group’s landmark $12 billion investment in Kazakh non-ferrous metals signifies a vertical integration approach—from mining and smelting to fabrication and renewable power generation. This $12 billion vertical integration project in Kazakhstan showcases China’s willingness to build a fully controllable supply chain.

    Europe must act strategically to counter these challenges.

    Firstly, financial aid should be contingent on stringent ESG benchmarks. EU financing must go hand-in-hand with clear, enforceable standards – ISO-compliant tailings dams, methane monitoring, gender-balanced workforce plans, and robust penalties for non-compliance.

    Secondly, the EU should focus on fostering value-adding industries beyond mining. This means investing in processing plants and recycling facilities, not just mines. By creating domestic processing hubs for cathode powders or rare-earth magnets, the CRMA’s 40 percent processing target can be achieved, generating jobs, technology transfer, and increased tax revenue for beneficiary countries.

    Finally, the EU must simplify visa requirements for Central Asian technical personnel. A targeted visa-facilitation agreement could allow them to train in Europe and return, strengthening the region’s skilled workforce.

    Securing a stable and sustainable supply of raw materials is a critical challenge for the EU. While China’s economic clout is undeniable, Europe has the opportunity to win this race by leveraging its commitment to ESG principles and building a truly sustainable, transparent, and trust-based partnership with Central Asia.

    Time is of the essence. The next 18 months, before China’s revised mining law takes full effect and East Hope’s megaproject begins construction, provide a crucial window for the EU to demonstrate its commitment to ESG beyond rhetoric. The stakes are high, as the fate of Europe’s essential raw materials supply hangs in the balance.

  • Kazakhstan Unveils 38 Major New Mineral Deposits

    Kazakhstan Unveils 38 Major New Mineral Deposits

    Kazakhstan has announced the discovery of 38 new deposits of copper, nickel, coal, gold, and rare earth metals in the first quarter of 2025, according to an official government statement.

    The discoveries were made following extensive geological studies, including aerial photograph analysis, route surveys, drilling, geochemical testing, radiation and water sampling, and desk research.

    The newly identified deposits are estimated to contain:

    • 2.6 million tonnes of rare earth metals
    • 1.1 billion tonnes of brown coal
    • 3.7 million tonnes of copper and nickel
    • 19 tonnes of gold

    The total area of geological and geophysical exploration in Kazakhstan is expected to expand to 2.2 million square kilometres by 2026, up from just 2,000 square kilometres in 2024. This initiative follows a directive from President Kassym-Jomart Tokayev, who has instructed the cabinet to prioritise mineral exploration.

    To support this effort, the government has allocated $44.4 million for geological exploration between 2024 and 2026, with $14.8 million designated for 2025.

    Between 2018 and 2024, mining companies invested approximately $827.3 million in Kazakhstan’s mineral sector. In 2025 alone, exploration investments are expected to reach $206.8 million. A streamlined licensing process—requiring only reporting rather than predefined work volumes—has made the market more accessible to investors.

    Earlier this month, Eurasian Resources Group announced the discovery of a new copper deposit with projected reserves of 250,000 tonnes.

  • Kazakh Oligarch Vladimir Zhumanbayev Expands Mining Empire

    Kazakh Oligarch Vladimir Zhumanbayev Expands Mining Empire

    Vladimir Dzhumanbayev, one of Kazakhstan’s wealthiest businessmen, has further expanded his business empire through his company Altynalmas, which has officially acquired two new assets: TOO Anisimov Klyuch and TOO Met Miner. The transaction, confirmed by documentation published on the Kazakhstan Stock Exchange (KASE) and dated 12 June, grants Altynalmas a 100% stake in both companies. The size of the deal has not been disclosed.

    The acquisitions underscore Altynalmas’s ongoing strategy of broadening its footprint within the mining sector. TOO Anisimov Klyuch operates a copper deposit of the same name in East Kazakhstan’s Glubokovsky district, with a site area of approximately 11 hectares and an annual production capacity of up to 500,000 tonnes of ore. The company, with eight years of operational experience, has contributed over 45 million tenge in taxes, more than half of which were paid in the last year alone. Anisimov Klyuch was previously part of the Kazakhmys corporation.

    The second asset, TOO Met Miner, is engaged in geological exploration across the Aksuyskaya region of Akmola and the Stepnogorsk area. Within just three years, Met Miner has initiated the search for gold, copper, and other minerals. With integration into the Altynalmas structure, an acceleration in exploration and development efforts is anticipated.

    These moves reflect a continued concentration of mining assets in the hands of Kazakhstan’s largest capital holders. Dzhumanbayev himself holds significant stakes in Altynalmas and other major mining outfits, ranking 21st on the Forbes Kazakhstan’s 2025 rich list with a net worth reported at $472 million.

    Previously, Dzhumanbayev was mentioned in connection with a criminal investigation by Kyrgyz authorities, but proceedings were ultimately dropped. His growing influence in the sector signals a further consolidation of Kazakhstan’s mining industry under the control of its most powerful business figures.

  • Kazakhstan Selects CNNC to Lead Construction of Second Nuclear Power Plant

    Kazakhstan Selects CNNC to Lead Construction of Second Nuclear Power Plant

    Kazakhstan has chosen China National Nuclear Corporation (CNNC) to lead the consortium that will build the country’s second nuclear power plant, according to Almasadam Satkaliyev, head of the Atomic Energy Agency. The two sides plan to sign a general cooperation agreement on nuclear energy.

    Satkaliyev emphasized that China has full technological capabilities and industrial infrastructure to handle the entire nuclear cycle independently, making CNNC a top priority partner. He also highlighted CNNC’s ability to deliver “fast and high-quality” results.

    Previously, Kazakhstan selected Russia’s Rosatom as the lead for its first nuclear power project. Other shortlisted contenders included France’s Électricité de France (EDF) and South Korea’s Korea Hydro & Nuclear Power (KHNP). Satkaliyev described the Russian and Chinese proposals as “objectively the strongest.”

    The country’s nuclear ambitions have been progressing since 2021. In 2023, a national referendum showed strong public support for building a nuclear plant, with over 70% voting in favor. According to an official decree, the second nuclear plant will be built in the Zhambyl district of the Almaty region.

    The project will be handled by an international consortium of no more than five countries, with political risk assessments taken into account. The government expects the technical feasibility study to take one year and the design and planning stage another 18 months.

  • Kazakhstan Expands Uranium Exports to Bulgaria’s Nuclear Industry

    Kazakhstan Expands Uranium Exports to Bulgaria’s Nuclear Industry

    Kazakhstan is set to supply uranium to Bulgaria’s nuclear power stations, according to Nurlan Zhakupov, the head of the Samruk-Kazyna Fund, who spoke to journalists at the Akorda presidential residence.

    Bulgaria operates a nuclear power plant with two 1,2 MW units, presenting a significant opportunity for cooperation in uranium supplies, Zhakupov explained. However, details regarding the volume of supplies remain confidential.

    Zhakupov also revealed that Kazakhstan Atomic Energy Stations (KAES), currently a subsidiary of Samruk-Kazyna, will transition to the newly established Agency for Atomic Energy. KAES will focus on the construction of nuclear power plants within Kazakhstan.

    Earlier reports indicated that Kazatomprom would supply uranium concentrate to the Czech Republic. This deal aligns with Kazatomprom’s global strategy to diversify its sales channels.

    Last year, Kazatomprom produced over 23,000 tonnes of uranium. Since 2022, Kazakhstan has been supplying uranium fuel to China’s nuclear power plants and, in December, completed a uranium shipment to Canada via the Trans-Caspian International Transport Route.

    In February of this year, Kazakhstan agreed to collaborate in the uranium sector with Jordan and to supply uranium to Switzerland.

  • China Proposes $5.47B Nuclear Power Project in Kazakhstan, Halving Estimated Cost

    China Proposes $5.47B Nuclear Power Project in Kazakhstan, Halving Estimated Cost

    China National Nuclear Corporation (CNNC) has proposed constructing two nuclear power plant units in Kazakhstan with a combined capacity of 2.4 GW for a total cost of $5.47 billion—almost half the previously estimated cost of $10–15 billion, according to The Moscow Times.

    The proposal positions CNNC as a serious contender in Kazakhstan’s ongoing selection process, which also includes bids from Russia’s Rosatom, South Korea’s KHNP, and France’s EDF. CNNC’s offer stands out not only for its lower price, but also for its commitment to share technology and grant Kazakhstan full control over the nuclear fuel cycle.

    Kazakh authorities expressed strong interest in China’s approach, particularly its experience in nuclear and water-ecological safety at all stages of nuclear plant development. The International Atomic Energy Agency (IAEA) has also pledged its readiness to support Kazakhstan in the project.

    The proposed plant would mark Kazakhstan’s return to nuclear energy following the decommissioning of the Soviet-built Shevchenko plant in 1999, which was shut down due to proliferation concerns. Now, with global energy security concerns rising and Kazakhstan holding 43% of the world’s uranium production via Kazatomprom, the country is looking to tap its nuclear potential anew.

    Kazakhstan’s Ministry of Energy had previously warned that global inflation in materials and services could increase the cost of a nuclear plant by 1.5 times, underscoring the strategic appeal of CNNC’s more affordable and flexible proposal.

  • Kazakhstan’s President Meets Ivanhoe Mines’ Robert Friedland to Discuss Copper Exploration in Kazakhstan

    Kazakhstan’s President Meets Ivanhoe Mines’ Robert Friedland to Discuss Copper Exploration in Kazakhstan

    On 28 May 2025, the President of Kazakhstan received Robert Friedland, Executive Co-Chairman of the Board of Directors of Ivanhoe Mines Ltd., to discuss prospects for cooperation in geological exploration, metal mining, and processing.

    During the meeting, Friedland informed the President about the launch of large-scale exploration activities in Kazakhstan’s Chu-Sarysu copper basin. Ivanhoe Mines has committed an initial $18.7 million for subsurface studies in the region, with total investments expected to rise to $115 million over the next four years.

    Friedland highlighted that the project will utilize advanced airborne geophysical technologies and digital data analysis to unlock Kazakhstan’s untapped copper resources. He described the initiative as one of the most ambitious copper exploration campaigns in Kazakhstan’s history and noted its potential to reshape the global copper supply landscape.

    The meeting underscored Ivanhoe Mines’ long-term vision for the region and emphasized the strategic importance of high-tech exploration methods in discovering and developing critical mineral assets.

  • Kazakhstan Advances Geological Data Digitization, Aiming for 86% Completion by 2025

    Kazakhstan Advances Geological Data Digitization, Aiming for 86% Completion by 2025

    Kazakhstan is making major strides in the digitization of its primary geological data as part of a nationwide initiative to enhance subsoil management. According to the Ministry of Industry and Construction, 60% of sector-specific geological information has already been digitized.

    In 2024 alone, approximately 1.906 million geodata units—representing 42% of the remaining volume—were processed. Combined with results from 2023, a total of 2.7 million records have been converted so far. These include over 2.47 million paper documents and graphical materials, 75,000 magnetic tapes, and around 50,000 cartridges.

    Looking ahead to 2025, Kazakhstan plans to digitize an additional 1.2 million units, pushing the digitization level to 86%. This progress brings the country closer to establishing a comprehensive and modern digital geological database.

    One of the key benefits of this digital transformation is its potential to attract foreign investment. By offering fast and convenient access to detailed geological data, Kazakhstan positions itself as a more transparent and investor-friendly destination in the natural resources sector.