Kazakhstan discovers large deposit of rare earth metals

Kazakhstani authorities have announced the completion of exploration work at Kuyrektykol, a significant rare earth metals deposit in the Karaganda region. According to Minister of Industry and Construction Kanat Sharlapayev, the deposit is estimated to contain around 800,000 tons of minerals, with projected resources potentially reaching 935,400 tons of rare earth metals, including cerium and lanthanides.

The minister also noted that within the framework of the state geological survey, exploration is underway at 12 additional sites with potential deposits of rare earth metals.

Examination of Kuyrektykol began in 2022 over a territory of 64.2 square kilometers. The exploration identified four promising sites within the field. Preliminary data suggest that the field may contain twice as much as the currently measured mineral resources of 800,000 tons.

In addition to state efforts, several private companies, such as Cove Capital from the U.S. and HMS Bergbau from Germany, are also actively engaged in mineral exploration. Meanwhile, the Ministry of Industry is working to declassify data on rare earth deposits to attract investors to this sector in Kazakhstan.

For example, Cove Capital has already decided to expand its drilling program in the East Kazakhstan region following promising results from earlier exploration efforts this year.

Global demand for rare earth metals continues to rise, as these materials are widely used in the production of magnets, lasers, glass, ceramics, catalysts, batteries, vehicle parts and as supplements for semiconducting materials.