U.S. investors are showing growing interest in Kazakhstan’s critical minerals sector, with attention increasingly focused not only on extraction but also on processing, metallurgy and broader supply-chain development, according to Nicole Rodgers, president of the U.S.-based Alliance for Mineral Security, an industry group representing companies involved in mining, processing and the use of strategic minerals.
Rodgers spoke during the panel session “Investment Climate in Mining and Metallurgy” at the Astana Mining & Metallurgy Congress, AMM 2026, where she emphasized that predictability and regulatory consistency are among the most important conditions for attracting global capital.
“In our view, Kazakhstan is moving in the right direction, including by harmonizing regulations with international standards, developing early-stage geological exploration, building industrial clusters and moving toward more sophisticated investment structures,” Rodgers said. “At the same time, American investors are interested not only in extraction, but in participating across the entire value chain.”
She pointed to an agreement between U.S.-based Cove Capital and Kazakhstan’s national mining company Tau-Ken Samruk on the joint development of the Severny Katpar and Verkhne Kairakty tungsten deposits in the Karaganda region of central Kazakhstan. Under the deal, the investment package includes plans to build two processing plants and a metallurgical facility, with a total projected value of $1.1 billion.
Interest from Washington has also been reinforced at the political level. Speaking at the C5+1 Critical Minerals Dialogue in June, U.S. Special Envoy for South and Central Asia Sergio Gor said Washington intended to play an active role in developing Central Asia’s mining sectors.
“Interest in Kazakhstan from American investors is high, but for that interest to materialize in practice, infrastructure, energy capacity and skilled personnel are critical,” Rodgers added.
While foreign interest is rising, industry representatives said Kazakhstan’s ability to convert that interest into long-term investment will depend on the consistency of its legal and regulatory framework.
Nikolai Radostovets, executive director of the Republican Association of Mining and Metallurgical Enterprises, said amendments to Kazakhstan’s Subsoil Code, adopted in 2018, should now be aligned with changes in environmental, water and land legislation introduced in recent years.
Ruslan Baimishev, president of the Kazakhstan Mining Chamber, also highlighted the importance of legislative stability, particularly in tax policy, saying investors require consistency in government decisions.
World Bank Senior Mining Specialist Remy Pelon said many countries are reforming their mining sectors to meet growing demand for minerals needed for the global energy transition.
At the same time, Pelon warned against overcorrection.
“Governments must create conditions for the efficient use of mineral resources in the interests of national development, but it is equally important to preserve a balance between industrial policy, openness to new market players and competitiveness,” he said.
“That balance is especially important for countries aiming not only to extract raw materials, but also to develop processing, local manufacturing and technological expertise.”
Kazakh officials used the forum to underscore recent legal measures designed to improve investor protections.
Arman Khassenov, deputy chairman of the Committee for the Protection of Investors’ Rights under the Prosecutor General’s Office, reminded participants that Kazakhstan’s prosecutor general was appointed investment ombudsman last year. In addition, investment prosecutors have now been introduced in every region of the country, while a new platform has been created under the Prosecutor General’s Office to resolve disputes between investors and state bodies before they reach court.
“Each project is assigned a personal investment prosecutor who remains in constant contact with the investor,” Khassenov said. “This allows for a rapid response to emerging issues and reduces the risk of administrative barriers.”
He added that another new mechanism is the so-called “prosecutorial filter,” which requires state agencies to coordinate with prosecutors before making decisions that could affect investors’ rights.
These include inspections, lawsuits, changes in licensing terms, license revocations, refusals to extend investment contracts and other significant decisions by local authorities.
Kazakhstan, one of the world’s largest producers of uranium, copper and ferroalloys, has increasingly positioned itself as a strategic supplier of critical minerals as global competition for energy-transition resources intensifies.
