Condor Energies Secures Second Critical Minerals Mining License in Kazakhstan

Energy transition company Condor Energies (TSX:CDR,OTC Pink:CNPRF) said on Tuesday (March 10) that it has secured its second critical minerals mining license in Kazakhstan.

The Kolkuduk license, awarded to the firm by the Kazakh government, grants Condor exclusive rights to explore and mine solid minerals across a 6,800 hectare site for a six year term.

Kolkuduk is situated near Condor’s existing 37,300 hectare Sayakbay critical minerals license, with both sites located in a geothermally active region known for its rich mineralized brine deposits.

According to data from the Kazakh geology ministry, a previously drilled well in the Kolkuduk territory encountered brine deposits containing lithium concentrations of up to 130 milligrams per liter. Historical wireline logs and core samples indicate a 1,000 meter brine reservoir, suggesting significant potential for resource development.

Additional minerals identified in the region include rubidium, strontium and cesium.

“Condor’s focus on developing critical minerals in Kazakhstan aligns with the strategic focus of multiple countries to accelerate the development of diverse, secure, and sustainable supply chains of critical minerals," said Condor President and CEO Don Streu in the company's release, emphasizing the strategic significance of its licenses.

“Kazakhstan is one of the select group of minerals-producing countries identified as strategic to these efforts."

Critical minerals have emerged as a cornerstone of global energy security and economic policy, with countries seeking to secure reliable sources for technologies such as batteries, renewable energy infrastructure and advanced manufacturing.

Condor’s expansion into critical minerals exploration complements its existing natural gas production operations in Uzbekistan and its liquefied natural gas (LNG) transportation fuel business in Kazakhstan.

Last year, the company signed its first LNG framework agreement with Kazakhstan Temir Zholy National Company (KTZ), the country’s national railway operator, and Wabtec (NYSE:WAB), a US-based locomotive manufacturer. The deal lays the groundwork for using LNG to fuel Kazakhstan’s rail locomotive fleet, a major step in reducing reliance on diesel fuel.

KTZ and Wabtec have been working to retrofit existing locomotives and incorporate LNG into new builds as part of a broader fleet modernization initiative. Under the agreement, Condor will serve as the primary LNG supplier and distributor, coordinating production volumes with the rollout of LNG-powered rail locomotives.

The LNG initiative is also poised to play a critical role in the expansion of the Transcaspian International Transport Route, a vital corridor for freight movement between Asia and Europe. Condor has already completed front-end engineering for its first modular LNG facility, with detailed engineering slated to commence soon.

The facility, to be built near Aktobe, Kazakhstan, will have an annual production capacity of 120,000 metric tons of LNG, equivalent to 450,000 liters of diesel per day.

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.