Kazakhstan’s Metal-Rich Industry Aims to Secure Role in Battery Supply Chain
Kazakhstan is ramping up efforts to increase production of metals crucial for electric vehicle (EV) batteries by issuing hundreds of new exploration licenses to attract fresh investment in the sector, according to the country’s industry minister. With deposits of 90% of the elements in the periodic table, Kazakhstan is positioning itself as a reliable supplier of critical materials amid concerns over potential export restrictions by Russia and China’s control over rare earths.
Industry Minister Kanat Sharlapaev highlighted Kazakhstan’s track record as a dependable market supplier, emphasizing the country’s existing exports of ferroalloys, gold, and manganese. The nation is now looking to expand its market share in battery materials like lithium, cobalt, manganese, nickel, and graphite to meet the growing demand for these resources.
To achieve this goal, Kazakhstan aims to enhance its production capabilities for battery-grade metals, with plans to process materials needed for various types of batteries, including lithium ferro phosphate (LFP) batteries. The country has streamlined exploration license procedures to accelerate development and attract major mining companies like BHP, Rio Tinto, First Quantum Minerals, and Teck Resources.
In response to Russian President Vladimir Putin’s threats to limit exports of certain commodities, Kazakhstan is strategically positioning itself as a key global supplier of uranium, titanium, and nickel, while also exploring its untapped lithium reserves. The country’s commitment to exploration and development has led to a significant increase in the number of issued licenses this year, with support from the European Bank for Reconstruction and Development (EBRD) investing in graphite exploration in Kazakhstan.
Despite being a member of Russian-led economic and security blocs, Kazakhstan has maintained neutrality in the Russia-Ukraine conflict, pledged to adhere to Western sanctions against Moscow, and actively participated in the development of alternative cargo transit routes.
SOURCE
Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.