Kazakhstan finds biggest rare earth deposit in country's history
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Kazakhstan reports a major rare earth metals discovery, potentially reshaping its role in critical mineral supply chains.
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Refined tellurium is displayed at the Rio Tinto Kennecott refinery, May 11, 2022, in Magna, Utah. (AP)
Kazakhstan announced on Wednesday that it had uncovered its largest rare earth metals deposit to date, which holds approximately one million tons of these critical elements, seen as essential for the future economy, according to the Central Asian country.
"As of today, this is the largest rare earths deposit" in Kazakhstan, an industry ministry spokesperson told AFP, who added that the deposit, located in the Karaganda region, contains cerium, lanthanum, neodymium, and yttrium, elements that play a significant role in green energy, modern defense, and civilian technology.
Rare earths, consisting of 17 critical raw materials that are indispensable for the global shift toward green energy and intensely pursued by major powers such as China, Russia, the United States, and Europe, represent a strategically vital resource in the modern economy.
According to Kazakhstan's Ministry of Industry, the potential resource volume at the newly discovered site—named "New Kazakhstan"—could exceed 20 million tons, though this estimate remains contingent upon further verification and extensive research.
"This could put Kazakhstan among the world's top countries with rare earth deposits in the future," the Ministry of Industry added; however, the country faces significant obstacles as it does not have the technologies required to benefit from the deposits and has to look for investment from foreign countries.
The announcement of this discovery comes ahead of the first EU-Central Asia summit, kicking off in Uzbekistan, which will bring together the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan with the President of the European Commission, Ursula von der Leyen, and the President of the European Council, Antonio Costa.
