The Central Asian nation plans to ramp up exploration and unlock more of its resource potential by 2026.
Kazakhstan, located in Central Asia, is home to significant deposits of critical minerals and aims to position itself as a key global producer. This ambition is drawing growing international interest: over the past five years, approximately $1 billion in private investment has flowed into the country’s mining sector. The figure was announced by Margulan Baibatyrow, Deputy Chairman of the Geology Committee at the Ministry of Industry and Construction.
According to the Astana Times, international corporations have contributed nearly $81 million to geological exploration alone. Just weeks ago, Kazakhstan reported the discovery of its largest rare earth deposit to date, estimated at 20 million tonnes. The government plans to increase production of these critical raw materials by 40 percent in the coming years (we reported).
Only a fraction of deposits have been explored so far
According to mining.com, Kazakhstan currently lists over 980 deposits of solid mineral resources in its official geological records. Since 2018, the country has issued 2,906 exploration licenses and 111 production licenses. However, active exploration is currently taking place at only a dozen sites.
To address this, Baibatyrow announced plans to expand the country’s geologically surveyed area by one-third by early 2026, from 1.6 million to 2.2 million square kilometers. Still, he noted that funding for further exploration remains insufficient. Other challenges include a shortage of skilled personnel. One industry expert also flagged a potential risk for Kazakhstan’s emerging rare earths sector: the loss of value creation if raw materials are exported for processing elsewhere. The development of a domestic high-tech industry, which would use rare earths in products ranging from smartphones to electric motors, is seen as unlikely for now.
Photo: TanyaZima, sansak@design via Canva