{"id":153589,"date":"2025-03-13T15:15:36","date_gmt":"2025-03-13T14:15:36","guid":{"rendered":"https:\/\/efecomunica.efe.com\/?p=153589"},"modified":"2025-03-13T15:28:27","modified_gmt":"2025-03-13T14:28:27","slug":"kazakhstan-eu-sign-rare-earth-agreement-worth-3-million-euros","status":"publish","type":"post","link":"https:\/\/efecomunica.efe.com\/en\/kazakhstan-eu-sign-rare-earth-agreement-worth-3-million-euros\/","title":{"rendered":"Kazakhstan, EU sign rare earth agreement worth 3 million euros"},"content":{"rendered":"

Astana, Mar 13 (EFE).- Kazakhstan<\/strong> and the European Union (EU)<\/strong> signed Thursday an agreement on rare earth metals<\/a> worth 3 million euros during European Commissioner for International Partnerships Czech Jozef S\u00edkela<\/strong>\u2019s visit to the Central Asian country.<\/p>\n

\u201cEurope needs these critical raw materials to modernize its economy, and Kazakhstan, with its vast reserves, is a natural partner,\u201d S\u00edkela told a press conference after talks with Kazakh Foreign Minister Murat Nurtleu<\/strong>.<\/p>\n

The European commissioner added that he was pleased with the signing of a new agreement between Astana and the European Bank for Reconstruction and Development (EBRD)<\/strong> to expand \u201ccooperation in critical raw materials.\u201d<\/p>\n

Apart from cooperation with Kazakhstan, Brussels is interested in creating a reliable infrastructure<\/strong> for the supply of rare earth metals and their derivatives to consumers.<\/p>\n

\u201cThe Trans-Caspian Transport Corridor<\/strong> is a game-changer. It can reduce transit times between Europe and Asia to just 15 days or less, unlocking new opportunities for trade and investment across the region,\u201d he said.<\/p>\n

Kazakhstan commits to rare earth metals<\/h2>\n

Kazakhstan, the largest country in Central Asia, has joined the search for rare metal deposits in its vast territory to attract more investmen<\/strong>t for the country, as it did at the dawn of its independence with oil and gas reserves.<\/p>\n

According to the country’s National Geological Survey<\/strong> and Ministry of Industry<\/strong>, lithium reserves in seven deposits in eastern Kazakhstan alone amount to 100,000 tons and are valued at billions of dollars.<\/p>\n

Lithium is one of the most important minerals for the electric vehicle industry<\/strong>, as it is the main component for battery production.<\/p>\n

In total, according to the Kazakh government, the country produces 16 of the 30 strategically important rare earth metals<\/strong> and, with investments and advanced technology, the number could rise a further nine.<\/p>\n

Alternatives to the Asian giant<\/h2>\n

China<\/strong> is currently the global leader in the rare metals market.<\/p>\n

According to the International Energy Agency (IEA)<\/strong>, by the end of 2024, China controlled \u201c60 percent of the global rare earth metals production market and 90 percent of its processing.\u201d<\/p>\n

The U.S. Geological Survey<\/strong> says that China also has the world’s largest reserves of rare earths, 44 million tons.<\/p>\n

In this scenario, Kazakhstan believes it has the potential to become a good alternative<\/strong> to its neighbor, attract new investments, and solve problems in geological exploration.<\/p>\n

The European Union, for its part, is ready to cooperate with Astana to diversify<\/strong> its sources of supply of rare metals and reduce its dependence on China. EFE<\/p>\n","protected":false},"excerpt":{"rendered":"

Astana, Mar 13 (EFE).- Kazakhstan and the European Union (EU) signed Thursday an agreement on rare earth metals worth 3 million euros during European Commissioner for International Partnerships Czech Jozef […]<\/p>\n","protected":false},"author":198164071,"featured_media":153590,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[123771,123779],"tags":[124444],"class_list":["post-153589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-politics","tag-kazakhstan"],"acf":[],"yoast_head":"\nKazakhstan, EU 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