Kazakhstan invites German investors to explore and mine rare earth metals

ASTANA. Sept 17 (Interfax) - Kazakhstan is committed to providing favorable conditions for German investors to explore and mine rareearth metals.

"Kazakhstan invites German companies to collaborate on the exploration and extraction of rare earth metals. I propose a partnership based on a 'raw materials for technology' principle, which includes primary and secondary ore processing in the region. In this context, we welcome HMS Bergbau's investment project for lithium extraction and processing in East Kazakhstan, valued at over $500 million," Kazakh resident Kassym-Jomart Tokayev said at the Central Asia - Germany summit in Astana.

Tokayev highlighted the importance of industrial cooperation, increasing supplies of critical materials to Germany. He reiterated Kazakhstan's readiness to continue providing favorable conditions for German investors in this sector and proposed establishing a Regional Research Center for Rare Earth Metals.

"I believe it would be beneficial, with the support of our European partners, to establish a Regional Research Center for Rare Earth Metals based at the Kazakh Center for Technological Forecasting," Tokayev said.

In September of last year, German company HMS Bergbau AG announced plans to invest $500 million in a lithium extraction and processing plant in eastern Kazakhstan.

HMS Bergbau AG is an independent German company involved in the exploration and mining of solid mineral resources. It operates in the USA, Singapore, South Africa, Indonesia, Poland, UAE, and Botswana, and has representation in China, India, Kenya, Malaysia, Pakistan, Sri Lanka, Bangladesh, and Vietnam.