The Korea Institute of Geoscience and Mineral Resources (KIGAM) has expressed its intent to begin developing a significant lithium deposit in East Kazakhstan in 2025. Kazakh Minister of Industry and Construction, Kanat Sharlapaev, provided insights into the upcoming agreement between the government and the potential investor, as reported by Kazinform News Agency.
“Currently, a geological study of these reserves is underway. As of now, no confirmation has been received regarding the existence of these reserves. Once the Korean investor validates the findings, we can discuss the proposed development plan. However, this discussion may be premature at this stage,” Sharlapaev stated.
The Minister emphasized that the discovery of lithium does not ensure its extraction is technically feasible.
“To make extraction economically viable, extensive work is required. This includes assessing the project’s viability through professional geologists and technologists, conducting economic feasibility studies, and implementing engineering solutions. We should not celebrate prematurely until the reserves are proven and their technical recoverability demonstrated. Only then will we revisit this discussion,” Sharlapaev added.
In June 2024, President Kassym-Jomart Tokayev was briefed on KIGAM’s exploration activities at the Bakennoe deposit in East Kazakhstan. Recognizing the importance of lithium mining and the production of high-value-added products, the President proposed a collaborative approach based on a pragmatic formula of “investments and technologies in exchange for raw materials.”
