ASTANA – Kazakhstan has attracted approximately $1 billion in private investment into its geological sector over the past five years, and recently discovered a major rare earth deposit estimated at 800,000 tons, said Margulan Baibatyrov, deputy chairman of the geology committee of the Ministry of Industry and Construction.
Photo credit: Ministry of Industry and Construction.
The announcement was made at the Mining Congress of Kazakhstan – the third international congress and exhibition – where industry leaders gathered to discuss the future of mining in the region on May 14-15. The mining congress brought together industry representatives from eight countries, including China, Hungary, Italy, Kazakhstan, Kyrgyz Republic, Russia, Tajikistan and Uzbekistan.
Baibatyrov noted that large international companies alone contributed 41 billion tenge (US$80.6 million) to geological exploration efforts, reported Kazinform.
Kazakhstan has promising reserves of rare earth metals and, if forecasts are confirmed, could become one of the world’s top ten leaders in terms of volume.
“We began prospecting work at 11 sites in 2022, and in 2024, that work was completed. We discovered a very large deposit. It is a rare earth deposit containing around 17 rare earth components including lanthanides, tellurides, neodymium, and lithium,” Baibatyrov stated.
These elements are critical in high-tech applications such as electric vehicle production, turbines, neodymium magnets, battery manufacturing, and microelectronics.
Baibatyrov also noted challenges facing the sector, including a shortage of qualified researchers, low levels of reserve replenishment, and insufficient funding for continued exploration.
