November 6, 2025
Kazakhstan has entered into a memorandum of understanding with the United States to collaborate in the field of critical minerals. This agreement was formalized by Kazakhstan's Minister of Industry and Construction, Yersayin Nagaspayev, and US Secretary of Commerce, Howard Lutnick, during a meeting in Washington. Kazakhstan's President, Kassym-Jomart Tokayev, was also present at the signing, which followed discussions with US officials, including Secretary of State Marco Rubio and Special Envoy for South and Central Asian Affairs Sergio Gor.
President Tokayev highlighted the potential for strengthening the strategic partnership between Kazakhstan and the US through economic cooperation. The agreement is seen as a strategic move by the US to diversify its sources of rare earth minerals, reducing reliance on China. Kazakhstan, with its largely unexplored reserves, offers promising opportunities in this sector.
Earlier this year, Kazakhstan's Ministry of Industry and Construction indicated that the country has significant reserves of rare earth minerals, potentially placing it among the top ten global producers. This is supported by the discovery of the Kuyrektykol deposit, estimated to contain 800,000 tonnes of rare earth metals, which could position Kazakhstan just behind China and Brazil in terms of reserve size.
Kazakhstan currently has over 980 deposits of solid minerals, with 2,906 exploration licenses and 111 production licenses issued since 2018. Despite this, only a few sites are actively being explored. The country has attracted approximately $1 billion in private investment in the mining sector over the past five years.
In related developments, the US is also exploring opportunities in Kazakhstan's tungsten sector. The Trump administration has been involved in negotiations for a US company to access two of Kazakhstan's largest tungsten deposits, valued at billions of dollars. Commerce Secretary Lutnick has been facilitating talks between Cove Kaz Capital Group and Kazakhstan's sovereign wealth fund. A Chinese state-owned firm is also competing for these projects.
Cove Kaz has already formed a joint venture with JSC Qazgeology for a rare earth project in Kazakhstan's Kostanay region. The US Geological Survey estimates Kazakhstan has over 2 million tonnes of tungsten reserves, with new mines potentially supplying the market for 30 to 40 years. Currently, China dominates global tungsten production, accounting for about 80% of the market.
