Kazakhstan unveils massive rare earth find amid EU summit
Kazakhstan has announced the discovery of the largest rare earth metal deposit, containing about 900,000 metric tonnes of these crucial resources.
Kazakhstan reported the discovery of the largest rare earth metal deposit in the country, which contains about 900,000 metric tonnes of these resources. These metals are essential for the energy transition and are highly sought after by China, Russia, the United States, and Europe.
In the Karaganda region, located in central Kazakhstan, a deposit containing cerium, lanthanum, neodymium, and yttrium was discovered. This announcement was made around the time the first EU-Central Asia summit is starting in Uzbekistan. The leaders of the five Central Asian countries—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan—are participating, along with the President of the European Commission, Ursula von der Leyen, and the Prime Minister of Portugal, António Costa.
The deposits will significantly impact the country's economy
The latest resources have been proudly named New Kazakhstan. The Ministry of Industry predicts that the resources of the new deposit could increase to over 18 million metric tonnes after further research. 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, shows interest in resources from this region. Kazakhstan, a former Soviet republic, does not possess the necessary technology to extract these resources and is therefore seeking foreign investors.
