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Project Description
Kazakhstan’s National Mining Company Tau-Ken Samruk, together with the American investment company Cove Capital, will conduct geological exploration for rare earth metals at the Akbulaksite in the Kostanay region during the current field season.
The cooperation between Samruk-Kazyna JSCand the American investment company Cove Capital is carried out within the framework of a strategic partnership focused on the development of promising areas. To implement key projects, the Fund’s subsidiaries are involved, in particular the National Mining Company Tau-Ken Samruk.
At present, the key priority is to carry out comprehensive preparatory measures, including the analysis of available geological data, assessment of infrastructure potential, and completion of organizational and legal formalities. These steps lay the foundation for further successful work. Field exploration is expected to begin during the current field season.
The project is notable for its significant historical resources, estimated at about 380,000 tonnes of rare earth oxides. Among them are critical elements such as neodymium and praseodymium, essential for the production of permanent magnets (NdFeB), as well as yttrium, used in electronics, medicine, and materials science.
Cove Kaz Capital Group LLC is a member of the international investment group Cove Capital LLC. Under the terms of the partnership, Cove Kaz holds 75% of the project, while Tau-Ken Samruk, through Qazgeology, owns 25%.
Project Phase:
Initiation & Feasibility
Investment Value:
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Location:
Kostanay Region, Kazakhstan
Start Date:
9/1/2025
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Other important details
The companies plan to jointly conduct geological exploration at the Akbulak site in the Kostanay region. According to preliminary data, the project demonstrates significant geological potential. Refined data will be provided upon completion of all studies.
This initiative is part of Kazakhstan’s broader efforts to strengthen its rare and rare earth metals industry.
Currently, Kazakhstan produces a wide range of valuable metals, including beryllium, tantalum, niobium, scandium, titanium, rhenium, and osmium, as well as mining bismuth, antimony, selenium, and tellurium.
Publication/Revision Date:
9/4/2025