Kazakhstan and EU Sign Nearly $1 Billion Mineral Cooperation Agreement

en.Wedoany.com Reported - Kazakh President Kassym-Jomart Tokayev proposed a new mining and metallurgy cooperation model at the "Kazakhstan-EU" roundtable in Brussels. The model aims to exchange European investment and technology for Kazakhstan's rare and rare earth metals.

Kazakhstan's mineral extraction enterprises are now ready to supply 21 of the 34 minerals listed in the EU's Critical Raw Materials list. According to Kursiv, the country has abundant untapped reserves of lithium, nickel, vanadium, and cobalt.

The President noted that the offtake model best unlocks the potential of raw materials. Under this model, the buyer guarantees the purchase of a certain quantity of future products, which will promote the processing of rare metal ores and the production of high-value-added products.

Additionally, Kazakhstan has once again proposed establishing a Regional Research Centre for Rare Earth Metals in Astana. This institution should provide potential investors with up-to-date information on existing mineral deposits in Central Asia and their development technologies.

The roundtable emphasized that Kazakhstan is one of the EU's key energy partners. In 2025, Kazakhstan's share of crude oil in the EU market has increased to 13%.

After the meeting, the two sides signed new commercial agreements totaling nearly $1 billion.

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