Kazakhstan opens bidding on gold and rare metal deposits

Kazakhstan is preparing to auction 50 solid mineral deposits, including sites rich in gold and rare metals, according to Almas Kushumov, head of the subsoil use department at the Ministry of Industry and Construction.

«An electronic auction is planned for June of this year. We will be auctioning 50 deposits,» Kushumov said during the MINEX Kazakhstan 2025 mining and exploration forum in Astana.

The rights to the deposits will be granted for both geological exploration and commercial production. Deposits with confirmed reserves — particularly of gold, copper and rare earth elements — will be auctioned for immediate development.

«These are deposits of gold, coal, rare metals and polymetals,» Kushumov said, noting that a full list of sites will be published soon.

Between 2023 and 2024, Kazakhstan licensed 117 deposits through electronic auctions, generating a total subscription bonus of more than $40 million. Kushumov added that Kazakhstan’s current reserves are sufficient to supply gold for 33 years and copper for 44 years.

In 2024, 43 new deposits, including 22 solid mineral sites, were added to the state register. During the same period, Kazakhstan increased its reserves by 20 tons of gold, 9,000 tons of silver and 48,000 tons of copper.

In late February, Kazakhstan’s then-Minister of Industry and Construction Kanat Sharlapaev, who was replaced days later by Yersaiyn Nagaspayev, told Kursiv.media that companies from the U.S., the EU and China could gain access to Kazakhstan’s rare earth and rare metal deposits through dedicated auctions. He noted that competition among major players in the critical materials market — used in dual-purpose technologies, renewable energy and electric vehicles — could help Kazakhstan attract higher levels of investment.