Kazakhstan and the United States have signed a memorandum of understanding on cooperation in critical minerals, the Kazakh presidential press service Akorda announced on Thursday.
The agreement was signed by Kazakhstan’s Minister of Industry and Construction Yersain Nagaspayev and U.S. Secretary of Commerce Howard Lutnik, in the presence of President Kassym-Jomart Tokayev, who arrived in Washington on Wednesday.
The signing followed a meeting between Tokayev and senior U.S. officials, including Secretary of State Marco Rubio and Special Envoy for South and Central Asian Affairs Sergio Gor.
The agreement is part of a suite of deals announced between Washington and Astana to tighten economic partnerships between the countries.
Both sides reaffirmed their commitment to securing access to critical minerals and enhancing energy security, while strengthening U.S. supply chains and creating new commercial opportunities for both nations.
According to a statement from Akorda, Tokayev highlighted the “excellent opportunities” to strengthen the strategic partnership between Kazakhstan and the U.S. through expanded economic cooperation.
“Our country maintains active political ties with the United States at various levels and is ready to engage in constructive dialogue to deepen multifaceted cooperation,” the statement said.
The U.S. State Department confirmed that Tokayev and Rubio discussed expanding trade and investment, as well as boosting cooperation in energy, technology, and infrastructure.
Cove Capital
Mining investment firm Cove Capital will develop a large tungsten deposit in Kazakhstan with the state mining firm JSC Tau-Ken Samruk under the deal.
Cove Capital will control 70% of a joint venture and sales of the metal, with Tau-Ken Samruk controlling the remaining 30%, according to a document seen by Reuters. Costs to develop the Northern Katpar and Upper Kairakty projects - in the country's east - are estimated at $1.1 billion, while the U.S. Export-Import Bank has issued a letter of interest to fund $900 million.
Tungsten, used to harden steel for a range of industries, is considered a critical mineral by the U.S. government.
The U.S. has not mined the metal since 2015 and China is by far the world's largest producer.
Supplies of the metal from the Kazakhstan projects will be used "to prioritise U.S. government and American commercial needs," according to the document.
"This is a generational win for the U.S. and its critical minerals needs," Cove CEO Pini Althaus told Reuters.
Mine construction should start within two years and production should commence within 3-1/2 years, with refining also occurring inside Kazakhstan, Althaus added.
C5+1 Summit
The two leaders met ahead of the C5+1 Summit. This year’s Summit marks the 10th anniversary of the platform, includes the U.S., Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, and focuses on regional economic and security cooperation.
Prime Minister Sanae Takaichi's Liberal Democratic Party is likely to increase its number of parliamentary seats and gain a majority in the lower hous...
UK Prime Minister Keir Starmer met Chinese President Xi Jinping in Beijing on Thursday (29 January) for talks he hopes will deepen economic ties, sign...
U.S. President Donald Trump urged Iran on Wednesday (28 January) to come to the table and make a deal on nuclear weapons or the next U.S. attack would...
Life will be particularly tough for Ukrainians over the next three weeks due to plunging temperatures and a compromised energy infrastructure that has...
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a dec...
Life will be particularly tough for Ukrainians over the next three weeks due to plunging temperatures and a compromised energy infrastructure that has been pummeled by intense Russian attacks, depriving millions of light and heat, a senior lawmaker said on Wednesday.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
New York City Mayor Zohran Mamdani has called for tax increases on the city’s wealthiest residents and most profitable corporations, warning that the city is facing a fiscal crisis on a scale greater than the Great Recession.
The United States says it's handing over a tanker to Venezuela that it seized earlier this month, according to two U.S. officials, marking the first known case of President Donald Trump’s administration returning such a vessel, Reuters reported.
France’s National Assembly has approved a bill banning access to social media for children under 15, a move backed by President Emmanuel Macron and the government as part of efforts to protect teenagers’ mental and physical health.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Sanctions are a long-used tool designed as an alternative to military force and with the objective of changing governments’ behaviour, but they also end up hurting civilian citizens.
A routine military training exercise turned into a major recovery mission this week after a catastrophic mudslide swept through a hillside in West Java, Indonesia.
Residents in Syria’s Kurdish-majority city of Qamishli have stepped up volunteer patrols amid growing pressure from the country’s Islamist-led government, expressing deep mistrust of Damascus despite a fragile U.S.-backed ceasefire.
Prime Minister Sanae Takaichi's Liberal Democratic Party is likely to increase its number of parliamentary seats and gain a majority in the lower house, a preliminary survey by the Nikkei newspaper showed on Thursday (29 January).
UK Prime Minister Keir Starmer met Chinese President Xi Jinping in Beijing on Thursday (29 January) for talks he hopes will deepen economic ties, signalling a potential breakthrough after years of strained relations.
U.S. President Donald Trump urged Iran on Wednesday (28 January) to come to the table and make a deal on nuclear weapons or the next U.S. attack would be far worse. Tehran responded with a threat to strike back against the United States.
Life will be particularly tough for Ukrainians over the next three weeks due to plunging temperatures and a compromised energy infrastructure that has been pummeled by intense Russian attacks, depriving millions of light and heat, a senior lawmaker said on Wednesday.
New York City Mayor Zohran Mamdani has called for tax increases on the city’s wealthiest residents and most profitable corporations, warning that the city is facing a fiscal crisis on a scale greater than the Great Recession.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment