kazakhstan's rare earth bonanza: biggest deposit discovered
Kazakhstan has announced the discovery of the largest rare earth metal deposit, containing about one million tons of these crucial resources.
The country reported this new deposit, marking the largest in Kazakhstan, with approximately one million tons of rare earth metals. These metals are essential for the energy transition and are highly sought after by China, Russia, the USA, and Europe.
In the Karaganda region, located in central Kazakhstan, a deposit containing cerium, lanthanum, neodymium, and yttrium was discovered. This announcement coincides with the start of the first EU-Central Asia summit in Uzbekistan. Leaders from the five Central Asian countries—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan—are participating, along with European Commission President Ursula von der Leyen and European Council President Antonio Costa.
The deposits will significantly impact the country's economy
The newly found resources have been proudly named New Kazakhstan. The Ministry of Industry anticipates that, following further research, the resources of the new deposit could increase to over 20 million tons. Kazakhstan may take the lead and become one of the most valuable sources of these unique metals.
Kazakhstan does not have the proper technology
The European Union, aiming to achieve carbon neutrality by 2050, is showing interest in resources from this region. However, Kazakhstan, a former Soviet republic, does not possess the necessary technology to extract these resources and is therefore seeking foreign investors.
