Nazarbayev Proposed Foreign Investors To Explore And Produce Lithium In Kazakhstan

Copper and the Making of Kazakhstan's New Metal Moguls

President of Kazakhstan Nursultan Nazarbayev has proposed the foreign investors to consider investments into exploration and production of lithium in Kazakhstan.

“Technologies with application of rare earth metals are actively developing in the world. According to the experts, demand for lithium may triple to 550 000 tons per annum. For this reason, lithium was called as “white oil”. Kazakhstan has big stocks of various rare earth metals, including lithium. I propose the investors to consider this sector for investments jointly with our Government. It is a promising direction, first of all, in the field of energy,” said N. Nazarbayev at the 30th plenary session of foreign investors’ council.

In his words, Kazakhstan keeps on working for business climate improvement.

“Administrative barriers are being eliminated; hopefully, you feel it in terms of investments risks and expenses for the projects performance at the renewable energy market. I propose our foreign members of the council to take active part in performance of alternative energy projects in Kazakhstan,” he said.

He reminded that the task for development of “green finances” was set at the previous plenary session of foreign investors’ council on May 27 2016.

“We are developing the concept of “green” financial system development. Representatives of big financial consulting institutions are here. We have an experience of introduction of “green” financing also in other states. I invite you to take part in this concept development, to introduce “green” financial products and services here,” he said.