Kazatomprom Pursuing Rare Earths Production

Reuters reported that Kazatomprom, Kazakhstan’s state-owned uranium producer, aims to produce rare earths and may look into buying deposits abroad. Spurring its interest are higher prices for the metals.

As quoted in the market news:

Resource-rich Kazakhstan, five times the size of France but with a population of only 17 million, is keen to carve out a niche for itself in the lucrative [rare earths] business.

‘As for rare earths, we are studying the issue of acquiring deposits of tantalum and niobium in Africa … we are looking at various (areas) with already explored reserves,’ [Kazatomprom head Vladimir Shkolnik] said, declining to give further details.

He said Kaztomprom was also considering buying licences to develop domestic rare earth metal deposits. ‘The market is vast – from Japan to Europe and Russia,’ he said.

Click here to read the full Reuters report.