Knauf Gruppe, GP Günter Papenburg AG and Roxtec, leading German companies, have established a consortium in order to explore and produce lithium in Kazakhstan, according to the Ministry of Industry and Construction of the Republic of Kazakhstan. German Institute for Technologies and Economics of Lithium (ITEL) will also take part in the project.
Kazakhstan is positioning itself as a significant global supplier of high-quality lithium, essential for the burgeoning power-storage technology industry, as demand for the mineral continues to surge. Recent discoveries in eastern Kazakhstan have bolstered this position, although concrete investment commitments are still limited.
The consortium participants have already established a working group that is expected to review the potential of Kazakhstani lithium reserves. In June 2023, HMS Bergbau AG, another German company, agreed to cooperate with Kazakhstan’s Creada Corporation and allocate $200 million in investments for lithium exploration in the country.
Researchers from the Korea Institute of Geoscience and Mineral Resources revealed substantial lithium reserves in the Bakennoye deposit, signaling a potential value of up to $15.7 billion. Plans for further drilling investigations are underway, indicating growing interest in Kazakhstan’s lithium potential.
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