Kazakh geologists have discovered a significant rare earth metal deposit with estimated resources exceeding 20mn metric tons, Reuters reported citing, the country’s Ministry of Industry and Construction.
The deposit, located at depths of up to 300 meters, could position Kazakhstan among the world’s top holders of rare earth metal reserves.
According to the ministry’s statement on Telegram, the newly identified “Zhana Kazakhstan” site is situated approximately 420 kilometers (261 miles) from the capital.
The deposit contains valuable elements such as neodymium, cerium, lanthanum, and yttrium, with an average rare earth metal content of 700 grams per ton.
If verified, the discovery would place Kazakhstan behind only China and Brazil in terms of rare earth metal reserves. Currently, the country is not listed in the U.S. Geological Survey’s global ranking of rare earth metal deposits.
The ministry did not disclose which companies might develop the site or provide a timeline for its potential extraction. However, the discovery comes amid growing global demand for rare earth metals, which are crucial for industries such as electronics, renewable energy, and defense.
