The President of Kazakhstan, Kassym-Jomart Tokayev, has proposed to the German Chancellor, Olaf Scholz, the creation of a consortium dedicated to commodity ventures, with the aim of supplying Germany and Europe with natural resources, media reports.
Kazakhstan has also extended an invitation to German private investors to join the consortium.
Kazakhstan anticipates a growing demand for critical and rare earth metals by 2040 and offers to mine them in the country.
Kazakhstan's Foreign Ministry has earlier stated that there are over 5,000 undiscovered deposits in Kazakhstan, valued at more than $46 trillion. In addition, Tokayev sees the potential for a transit hub in Kazakhstan to facilitate the transportation of various goods to the west and east of Eurasia, bypassing Russia. The "Middle Corridor" can run from China to Kazakhstan, then across the Caspian Sea to Azerbaijan, Georgia, and ultimately to Europe.
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