29.8 C
Supported byspot_img

Turkmenistan’s mineral wealth: Driving Central Asia’s green energy transition

Member of Europium Groupspot_img
Supported byspot_img

The recent surge in green energy initiatives is transforming 2024 into a pivotal year for Central Asia’s renewable sector. In March, ACWA Power, a major energy player from Saudi Arabia, announced significant investments in wind power plants in Uzbekistan, totaling over 1GW of power capacity. Following suit, Kazakhstan inked agreements to develop 1GW of wind power in the Jetisu region. Amidst this flurry of activity, critical minerals have emerged as key focal points, particularly in Kazakhstan and Turkmenistan.

Kazakhstan’s prominence as a lithium hotspot attracted substantial investments totaling $500 million from German stakeholders, with similar interest from South Korea and China. These investments underscore the pivotal role of the extractives industry in facilitating the energy transition, as critical minerals are indispensable for renewable energy and storage technologies.

Turkmenistan, with its abundant oil and gas reserves, is now poised to leverage its untapped mineral wealth to become a significant player in the green energy revolution. While the exact extent of Turkmenistan’s reserves remains undisclosed, there are strong indications of vast lithium deposits in Western Turkmenistan, notably in locations like Karabogazgol Bay. Additionally, the country boasts significant iron and copper ore reserves, crucial for electricity grid development.

Supported by

Exploration activities in Turkmenistan’s Southern regions hold promise for further discoveries of iron and copper deposits, while weathered-crust derivatives in the Lebap province suggest the presence of rare earth metals essential for digital technologies.

Despite Turkmenistan’s potential, the lack of comprehensive data poses challenges for investors, necessitating greater transparency and disclosure mechanisms. However, with strategic investments and exploration efforts, Turkmenistan can position itself as a key contributor to the global green energy ecosystem, driving economic prosperity and sustainable development in the region.

Supported byElevatePR Digital

Related News

Coal India expands into graphite mining with new license

Coal India Limited (CIL) is diversifying its operations beyond coal for the first time by entering the graphite mining sector. The Ministry of Mines...

Latin America’s chance to redefine mining and drive the global energy transition

Latin America's tumultuous relationship with mining dates back to the conquistadors' plundering of gold and silver for the Spanish crown. Following independence, the arrival...

U.S. faces critical mineral supply challenges: Urgent policy reforms required for energy security

The global shift towards electrified economies is redefining energy security, as the demand for essential metals like lithium, graphite, copper and rare earth minerals...

Cornish Metals finalizes $4.5 million royalty sale to focus on South Crofty tin project in UK

Cornish Metals Inc., a mineral exploration and development company focused on its 100% owned and permitted South Crofty tin project in Cornwall, UK, has...
Supported by
Supported by
Supported by
error: Content is protected !!