MINEX Forum

Tag: tungsten

  • Kazakhstan Targets Nearly ₸12 Billion Investment in Rare Earth Metal Development

    Kazakhstan Targets Nearly ₸12 Billion Investment in Rare Earth Metal Development

    Kazakhstan is set to attract nearly ₸11.79 billion (approx. $26 million) in investments for the exploration and development of rare earth metal deposits over the next four years, according to the Ministry of Industry and Construction.

    Currently, Kazakhstan does not produce rare earth raw materials. However, it already extracts several critical metals recognized by the EU, UK, and US, including beryllium, tantalum, niobium, fluorspar, titanium, rhenium, vanadium, antimony, bismuth, scandium, phosphorus, coking coal, bauxite, barite, copper, magnesium, tellurium, and manganese.

    The government has identified cobalt, tungsten, lithium, and other metals used in batteries and magnet production as key priorities. The national mineral reserve includes 56 cobalt deposits, 21 tungsten deposits, and 7 lithium fields. Exploration and production initiatives for lithium are already underway, including partnerships with German investors, potentially totaling $500 million if reserves are confirmed.

    As part of its 2024–2028 strategic plan, Kazakhstan aims to:

    • Expand its resource base,

    • Implement advanced extraction technologies,

    • Modernize production,

    • Develop new standards for critical minerals.

    The state budget and alternative funding sources will support this effort. In addition, Kazakhstan seeks to become a key player in the battery material supply chain. In 2024, it began manganese sulfate processing, capturing 5% of the global market.

    Several mid-term projects are also in development, including:

    • Cobalt, lithium, tin, and tungsten processing facilities,

    • A UK-Kazakh project in Zhezkazgan processing imported heat-resistant nickel alloys to extract rhenium,

    • A Chinese investment in tungsten trioxide production.

    The Ministry of Industry believes these initiatives will significantly strengthen Kazakhstan’s position in rare and critical metal production within three years. Kazakhstan is already a leading global producer of titanium, beryllium, and tantalum, and aims to attract new partners through technology transfer agreements.

    These moves align with Kazakhstan’s broader strategic partnership with the United States, particularly in energy and critical minerals. President Kassym-Jomart Tokayev has emphasized the importance of developing what he called the country’s “new oil” — critical minerals vital for the global energy transition.

  • UzKTK Aims to Boost Tungsten Production by 50 Times by 2030

    UzKTK Aims to Boost Tungsten Production by 50 Times by 2030

    Uzbekistan Technological Metals Combinat (UzKTK) has ambitious plans to significantly increase its production of tungsten and molybdenum by 2030. The company aims to boost tungsten production by a staggering 50 times and molybdenum production by 3.4 times in value terms.

    This announcement was made by Ulugbek Ruziyev, Deputy Head of UzKTK. He highlighted the company’s commitment to developing Uzbekistan’s rare metals sector, with 34 projects focused on exploration, extraction, and processing.

    UzKTK’s diverse project portfolio includes:

    • Exploration: 17 projects dedicated to identifying and assessing new deposits of lithium, tungsten, tantalum, niobium, graphite, and other rare earth metals.
    • Technology development: 8 projects focused on developing specialized technologies for processing rare metals.
    • Geological data analysis: 6 projects aimed at consolidating geological mapping, biochemical, and geophysical data.
    • Resource utilization: 3 projects focused on utilizing additional metals and rare elements.

    Established in July 2024 on the foundation of the “Rare Metals and Hard Alloys” scientific and production association, UzKTK is poised to become a key player in Uzbekistan’s burgeoning rare metals industry.

    This ambitious growth strategy aligns with the government’s focus on developing the rare metals sector. President Shavkat Mirziyoyev has called for $500 million in projects for the extraction and processing of rare earth metals, recognizing their growing importance in the global market.

    Uzbekistan has also strengthened international collaborations in this area, signing memorandums of understanding with the European Union and the United States on cooperation in critical raw materials. These partnerships will facilitate the development, financing, and infrastructure needed to support the sustainable supply of these valuable resources.

  • Development of the Aksoran deposit

    Development of the Aksoran deposit

    [vc_row][vc_column][vc_column_text]Source: Kazakh Invest[/vc_column_text][vc_raw_html]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[/vc_raw_html][vc_column_text]Products

    Average annual capacity:

    • 5,019 tons of tungsten in scheelite concentrate;
    • 227 tons of molybdenum in industrial products.

    Project

    Within the framework of the Project, it is planned to build a mining and processing plant (GOK) on the basis of the largest in Kazakhstan deposit of molybdenum-tungsten ores “Aksoran” for the production of tungsten in scheelite concentrate and molybdenum in industrial products. During the development of the deposit, it is planned to use a system of a sub-storey collapse with a face release of ore, which will then be sent for flotation enrichment.

    Company

    The initiator is “Esil-Mining” LLP, whose main activity is conducting geological exploration and surveys. The initiator has license No. 2-ML dated March 31, 2020 for the extraction of minerals at the Aksoran deposit (until 2045).

    Market

    • According to the forecast of Chromatus Consulting, it is expected that the global tungsten market will demonstrate a trend of stable growth from 3.27 billion US dollars in 2020 to 5.28 billion US dollars in 2028 with an average annual growth rate of 6.35% for this period.
    • World production of tungsten has an upward trend, despite the pandemic caused by the COVID-19 crisis in 2020 when production volume increased slightly by 0.2% (84 000 tonnes) compared with the year 2019 (83 800 tons).
    • According to the forecast Mordor Intelligence molybdenum consumption will increase c 247 thousand tons in 2020 to 303 thousand tons in 2025, demonstrating a CAGR of 4% from 2020 to 2025.

    What is the attractiveness of the project?

    • Estimation of reserves of the deposit. The reserves of the deposit were estimated according to the Kazakh KAZRC standard from the Committee of Geology, as well as according to the international JORC standard. The reserves were placed on the state balance sheet in 2019. Aksoran is among the richest tungsten deposits in Central Asia.
    • Contacts with potential consumers. The initiator received letters of interest to purchase its products from enterprises of China, Russia, Germany, Austria and Singapore.
    • Geographical location. The project has an advantageous location in terms of geographical proximity to China, the main consumer of tungsten.

    Investment offer

    The Project requires financing in the amount of 117,868 thousand US dollars:

    • 50% (58,934 thousand US dollars) – debt financing (if collateral is available);
    • 20% ($23,574 thousand) – equity * from 30% ($35,360 thousand) – investor participation.

    The proposed financing structure and measures of state support are indicative, the final structure of financing and participation in the Project will be determined based on the results of joint negotiations with the investor.[/vc_column_text][/vc_column][/vc_row]