Kazakh president exchanges views with Chinese companies on raw materials.
Kazakhstan and China are negotiating on possible supplies of rare earths. To this end, Kazakhstan President Kassym-Jomart Tokayev received the CEOs of two Chinese technology companies, Lingyi iTech and HG Technologies, on Wednesday.
The exchange focused on the companies’ potential supply of rare earth metals from Kazakhstan to produce components and laser equipment. No further details have been disclosed so far.
Kazakhstan’s innovation potential was also the subject of the talks. The two countries are already cooperating under China’s Belt and Road Initiative. In some states, the infrastructure project is being met with increasing skepticism. As we reported earlier this week, more and more partners under this initiative are unable to pay off their loans as planned, meaning that dependence on the Middle Kingdom is growing because of further refinancing loans. In early August, a report was published showing that the People’s Republic invested a record amount in the foreign metals and mining industry in the first half of 2023.
Besides China, Europe Also Interested in Kazakh Raw Materials
The European Union already agreed in November on a strategic partnership with resource-rich Kazakhstan to supply both sides with raw materials, batteries as well as green hydrogen. In addition to the EU, France, Germany, and the United Kingdom also concluded bilateral agreements on critical minerals with the Asian country last year.
Photo: iStock/Oleksii Liskonih