Kazakhstan and South Korea to Cooperate in Critical Minerals, Oil and Gas

During South Korean President Yoon Suk Yeol’s visit to Kazakhstan on June 12, agreements were made on cooperation in critical minerals and metals, as well as in the oil and gas industry.

A Memorandum on partnership on critical minerals and metals was  signed by the Ministry of Trade, Industry and Energy of the Republic of Korea and the Ministry of Industry and Construction of Kazakhstan.

The document represents the first step towards the establishment of an international chemical analytical laboratory in Kazakhstan and aims to strengthen cooperation between the two countries in the supply of lithium, nickel, cobalt, tantalum, tungsten, beryllium, niobium, titanium, rhenium, phosphorus, copper, aluminum, chromium, manganese, and rare earth metals.

An additional Memorandum on security and development of the critical minerals supply chain was signed by the Korean Institute of Geoscience and Mineral Resources, Korea’s SK Ecoplant Co. Ltd., and the Ministry of Industry and Construction of Kazakhstan.

The agreement provides for a comprehensive exchange of information on supply chains for critical minerals and metals, joint geological exploration and production of critical minerals and metals, and the mining and processing of lithium to produce lithium batteries.

Kazakhstan’s national oil and gas company KazMunayGas and Hyundai Engineering, South Korean EPC engineering company, signed an agreement on cooperation in the oil, gas and petrochemical industries.

Aimed towards exploring opportunities for cooperation in the above, it includes provision for technology exchange, specialist training, and the transfer of technical knowledge and experience.