Kazakhstan invites U.S. companies to develop rare earth deposits
Kazakhstan has invited U.S. companies to participate in the exploration and development of rare and rare-earth metal deposits as the country seeks to expand international cooperation in the critical minerals sector, Qazinform News Agency reports.
The invitation was announced by Kazakhstan’s Minister of Industry and Construction, Yerssaiyn Nagaspayev, during the C5+1 Dialogue on Critical Minerals in Astana.
In his opening remarks, Nagaspayev said critical minerals are becoming the foundation of the global technological transition and a key element of the new global industrial landscape.
He noted that Central Asia possesses a substantial mineral resource base, growing industrial potential, and a strategic location between major global markets. Kazakhstan, he said, views the critical minerals sector as one of the main priorities of its industrial policy and long-term economic development strategy.
“Kazakhstan’s resource base includes more than 9,500 deposits, including over 100 containing rare and rare-earth metals. We invite American companies to join their exploration and extraction,” Nagaspayev said.
In 2018, Kazakhstan adopted a new Subsoil and Subsoil Use Code which reformed the country’s legislation in the sector, based on the regulatory systems of Australia and Canada. The reforms introduced a “first come, first served” licensing principle and simplified access to mineral resources.
In 2023, the country launched a Unified Subsoil Use Platform. Since 2024, the country has fully implemented international CRIRSCO standards, ensuring transparency and alignment of mineral resource reporting with global practices.
According to Nagaspayev, these reforms have significantly boosted investor interest.
“Since 2018, investment in geological exploration has tripled, exceeding $1 billion. Leading global companies, including Rio Tinto, Barrick Gold, First Quantum, Ivanhoe, Teck, Fortescue and Cove Capital, have entered the Kazakh market,” he said.
The minister emphasized that Kazakhstan is interested not only in exporting raw materials but also in developing joint manufacturing projects, facilitating technology transfer, training skilled personnel, and deepening scientific and technical cooperation.
Earlier, it was reported that Kazakhstan and Saudi Arabia discussed prospects for advancing cooperation in the mining sector, with particular emphasis on the exploration, extraction, and processing of strategic and critical minerals.
