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    Kazakhstan

    German enterprises set to initiate lithium production in Kazakhstan

    German enterprises set to initiate lithium production in Kazakhstan

    Prominent German firms, Knauf Gruppe, GP Günter Papenburg AG, and Roxtec, have formed a consortium to investigate and extract lithium in Kazakhstan, the Ministry of Industry and Construction of the Republic of Kazakhstan reported. The German Institute for Technologies and Economics of Lithium (ITEL) will also participate in this initiative.

    Photo: German enterprises set to initiate lithium production in Kazakhstan 
    Source: Freepik

    The consortium members promptly set up a working group tasked with assessing the potential of lithium reserves in Kazakhstan.

    In June 2023, HMS Bergbau AG, an additional German entity, entered into a collaboration agreement with Kazakhstan’s Creada Corporation. The agreement includes an allocation of $200 mn for lithium exploration in the country. Furthermore, the German investor has plans to construct a mining complex worth $500 mn for the production and processing of lithium in the East Kazakhstan region.

    Yerlan Galiyev, Chair of the National Geological Service of Kazakhstan, indicated in November 2023 that six fields in Kazakhstan, namely Yubileynoe, Verkhne-Baymurzinskoye, Bakenny, Akhmetkino, Medvedka, and Akhmirovskoye, could potentially contain lithium.

    Photo: German enterprises set to initiate lithium production in Kazakhstan 
    Source: Wikipedia

    In October 2022, President Kassym-Jomart Tokayev of Kazakhstan stated that the country might hold between 50 to 100 tons of lithium reserves. He instructed the geological service to accelerate the exploration and development of lithium fields.

    Rare metals are essential for the manufacture of high-tech products, including electronics, magnets, batteries, and other innovative items.

    Bauyrzhan Aitkulov, Head of Mining Projects in Kazakh Invest, noted in October 2022 that Kazakhstan had made minimal progress in lithium production and processing. The country has not yet conducted any large-scale search for potential lithium reserves. Information about reserves discovered during the Soviet era was classified.

    Photo: German enterprises set to initiate lithium production in Kazakhstan 
    Source: Freepik

    The average cost of lithium extraction from subsurface brine is approximately $14 mn, compared to $90 mn for traditional mining. Aitkulov pointed out that the low profitability of this business discourages investors from taking more active steps. He also mentioned that Kazakhstan's industry currently does not need lithium.

     

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    19.02.2024, 14:16   Comments (0)   2353
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