Kazakhstan’s largest deposit of rare earth metals, which contains around one million tonnes of the elements thought to be crucial for the country’s economy, was discovered on Wednesday ( Apr 2 ) in Almaty.
17 rare earths are necessary for the transition to clean energy, which are highly sought after by countries like China, Russia, the United States, and Europe.
This is the largest uncommon earths payment in Kazakhstan as of right now, according to a department of industry director who spoke to AFP.
According to them, the loan contains magnetite, lanthanum, neodymium, and yttrium, which is located in the Karaganda region of central Kazakhstan.
The second EU-Central Asia conference, which will launch in Uzbekistan, is a day’s throw of the news about the discovery.
Among those vying for power in the resource-rich area are Russia, China, and Turkey.
The conference will bring up the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Tajikistan, Turkmenistan, and Uzbekistan, along with President of the European Commission Ursula von der Leyen and President of the European Council Antonio Costa.
According to Kazakhstan’s industry ministry, the potential amount of resources at the new site, which is dubbed” New Kazakhstan,” may reach more than 20 million tonnes, subject to confirmation and more research.
In the future, Kazakhstan could be among the world’s leading nations with rare earth deposits, the department added.
The EU is interested in unique metal and local resources, which have the goal of achieving coal neutrality by 2050.
Former Soviet republic of Kazakhstan is also attracting foreign investment because it lacks the technology necessary to exploit its unique planet deposits.