Rare Earth Metals - The Times Of Central Asia

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Kazakhstan to Auction 50 Rare Metal Deposits in June 2025

Kazakhstan will grant exploration and development rights for 50 deposits of gold and rare metals through an electronic auction scheduled for June 2025, the Ministry of Industry and Construction has announced. Almas Kushumov, Director of the Ministry’s Department of Subsoil Use, shared the details through MINEX Kazakhstan (Mining and Exploration Forum). “We will auction off deposits with confirmed balance reserves, gold, coal, rare metals, and polymetals,” Kushumov said. “The information will be published soon on the Unified Platform of Subsoil Use, and in June we plan to hold the electronic auction. All participants will be able to submit their documents online.” The auction will be hosted on the Unified Subsoil Use Platform: minerals.e-qazyna.kz. Licenses will be awarded for both exploration and production, with production licenses valid for 25 years. Companies from the United States, European Union, and China have already submitted applications, according to the ministry. The full list of the 50 deposits will be made public in the coming days. Kazakhstan has prior experience with this auction format, between 2023 and 2024, 117 deposits were awarded through electronic auctions, generating over KZT29 billion ($55.9 million) in signing bonuses. Kazakhstan currently holds over 9,000 registered deposits, including 987 classified as solid mineral sites. Many of these were surveyed more than three decades ago, which is why the government is now prioritizing not only production rights but also geological exploration, with strong interest from both domestic and foreign investors. Kushumov noted that the introduction of the Code on Subsoil and Subsoil Use in 2018 significantly improved the investment climate, tripling the volume of private capital in the sector. As previously reported by The Times of Central Asia, the state mining company Tau-Ken Samruk is advancing work at the Kuirektykol rare earth deposit, where exploration began in 2022. Recent studies have identified new promising zones which, if confirmed, could place Kazakhstan among the global leaders in rare earth metal reserves.

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Kuirektykol Deposit May Elevate Kazakhstan to Global Leader in Rare-Earth Reserves

Kazakhstani geologists have identified several promising new areas within the Kuirektykol deposit in the Karkaraly District of the Karaganda Region. If confirmed, these reserves could position Kazakhstan among the world’s leading nations in rare-earth metal resources. Exploration of the Kuirektykol site began in 2022. By November 2024, surveyors had discovered commercially viable concentrations of rare-earth elements, including cerium and lanthanides, across four prospective zones. These were initially estimated to contain total resources of 935,400 tons, including 795,800 tons of proven reserves. At the time, experts predicted that with further in-depth exploration, total reserves could potentially double. That projection is now being borne out by new findings, according to the Ministry of Industry and Construction. In a recent statement, the ministry reported that LLP Tsentrgeolszemnadzor, working within the framework of the state program for geological subsoil research, had uncovered several additional promising areas at the Kuirektykol site. These areas are believed to contain a combined one million tons of rare-earth metals. The agency also announced the preliminary evaluation of a vast new prospective area named Zhana Kazakhstan. Following recent prospecting work, geologists now estimate the total predicted resources of rare-earth metals in the Kuirektykol area to exceed 20 million tons at depths of up to 300 meters. The average concentration of rare-earth elements in the ore is approximately 700 grams per ton. As previously reported by The Times of Central Asia, the state-owned National Mining Company Tau-Ken Samruk is preparing to begin development of the Kuirektykol deposit, a move expected to attract significant private investment in the sector. These developments come amid increasing global demand for rare-earth elements, which are essential to technologies ranging from renewable energy and electric vehicles to defense and telecommunications, and are set to be exempt from new U.S. trade tariffs. Kazakhstan's growing resource base could play a pivotal role in diversifying global supply chains and enhancing the country’s strategic economic importance.

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Kazakhstan to Develop Rare Earth Metals Deposit in Karaganda Region

Kazakhstan’s national mining company, Tau-Ken Samruk, is preparing to develop the Kuirektykol rare earth metals deposit in the Karkaraly district of the Karaganda region, located in central Kazakhstan. Initial exploration of the Kuirektykol site began in 2022 and concluded in November 2024. Surveyors discovered commercially viable concentrations of rare earth elements, including cerium and lanthanides, across a 64.2 square kilometer area. Four promising zones were identified, with total resources estimated at 935,400 tons and confirmed reserves of 795,800 tons. Preliminary data suggests that reserves could potentially double with further exploration. On Monday, it was announced that Tau-Ken Samruk will lead the next phase of development, which includes pre-investment preparations such as additional geological studies, technology selection, and feasibility assessments. The company may proceed either independently or in partnership with private investors. “This approach has already been applied to pilot projects at the Karatas (copper), Zhosabai (gold), North Katpar, and Upper Kayrakty (tungsten) deposits,” the Cabinet of Ministers noted. “The Kuirektykol site, with its significant rare-earth reserves used in semiconductors and high-powered magnets, is the next in line for development”. Prime Minister Olzhas Bektenov highlighted the growth of private investment in the sector. Over the past six years, private capital in solid mineral exploration has tripled, reaching 100 billion tenge (approximately $198.6 million) in 2024. However, Bektenov also emphasized that state funding for geological exploration remains insufficient. In total, 38 promising areas with solid mineral deposits were identified across Kazakhstan in 2024. Earlier this year, Azat Peruashev, head of the Ak Zhol parliamentary faction, called on authorities to investigate subsoil users amid concerns over the alleged uncontrolled export of rare earth metals.

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Kazakhstan Calls for Investigation into Rare Earth Metals Exports

Azat Peruashev, head of the Ak Zhol parliamentary faction, has urged authorities to investigate subsoil users over alleged uncontrolled exports of rare earth metals. Parliamentary Inquiry Peruashev outlined his concerns in a parliamentary request addressed to Kazakhstan’s Anti-Corruption Service chief Askhat Zhumagali and Minister of Industry Ersaiyn Nagaspayev. "Social media posts by former Kazakhmys laboratory assistant Bakyt Adilova allege that the corporation exports ore and copper concentrate without conducting chemical analysis, concealing the presence of valuable and rare earth metals. She claims the company artificially devalues exported resources, harming the national economy to benefit oligarchs," Peruashev stated. He also cited an interview with geologist Bakyt Muratov on Elmedia, in which the expert criticized the absence of laboratory analysis in ore and concentrate exports. Muratov noted that for decades, major mining companies have shipped raw materials abroad for processing, leaving Kazakhstan unaware of the true value of its exports. "We still do not know exactly what we are selling. Complex ores are being exported without proper analysis. No one knows the vast sums of money that have left the country and returned as finished products," Muratov said. The Ak Zhol parliamentary faction is demanding official confirmation or denial of these claims. Lawmakers insist that authorities either prosecute those spreading false information or launch an anti-corruption investigation. Additionally, the party is calling for tighter government oversight of mineral exports. "Kazakhstan holds significant reserves of rare earth metals, including lanthanum, cerium, and yttrium, strategic elements crucial for high-tech industries. Rare earth metals are emerging as the 'new oil' in the global economy, with their availability increasingly influencing global power dynamics. Experts estimate that demand for some of these metals could grow up to 40-fold in the coming years," Peruashev concluded. Response from Kazakhmys In response, Kazakhmys Corporation stated that it does not engage in targeted mining of rare earth metals. However, the company acknowledged that small amounts of rare metals are recovered during acid washing processes. The corporation explained that production waste is processed at Zhezkazganredmet, a state-owned enterprise specializing in the separation and refining of rare metals. Waste from precious metal production is handled by Kazakhmys Progress LLP, which is responsible for refining. “All company operations are strictly regulated by the relevant authorities. We fully support stronger state oversight of mineral exports and are open to dialogue with government agencies. Allegations of concealing rare earth metals or artificially lowering the value of exported raw materials are baseless and do not reflect reality,” Kazakhmys said in a statement. Kazakhmys and the Broader Rare Earth Metals Landscape Kazakhmys was established as a joint stock company in August 1997 and re-registered as a limited liability partnership in January 2005. The company specializes in mining and processing copper ore into cathodes and rods, refining and selling precious metals, and managing by-products from copper production. Kazakhmys ranks as the world’s 20th largest producer of copper in concentrate (271 ktpa) and 12th largest producer of blister and cathode copper (377 ktpa and 365 ktpa, respectively). Its operations include...