Canadian Condor Energies Secures Rare Minerals Site in Kazakhstan

Canadian energy company Condor Energies has received a license to develop a large deposit of rare minerals in Kazakhstan. This is the second site where Canadians will work, Orda.kz reports.

Mining Technology writes that Kazakhstan's government has granted Condor Energies permission to develop the Kolkuduk deposit. 

The corporation will operate on the 6,800-hectare site over the next six years. Kolkuduk is adjacent to the larger Sayakbay deposit, which Condor Energies is already developing.

Both locations are situated within a geothermally active region known for its valuable mineral deposits.

These sites are strategically located between Europe and China, providing direct access to key mineral markets,writes Mining Technology. 

Previous drilling operations at Kolkuduk, aimed initially at discovering oil and gas reserves, revealed unexplored lithium resources in the form of a salt solution with metal concentrations reaching 130 milligrams per liter.

Preliminary assessments suggest the area may also contain deposits of other valuable metals, including 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 Don Struy, President of Condor Energies.

While lithium, rubidium, strontium, and cesium are not classified as rare earth elements, they play crucial roles in producing modern batteries, electronics, and technological advancement.

This marks the second Canadian company to commence exploration activities in Kazakhstan since the beginning of the year. Earlier announcements confirmed that Ivanhoe Mines would extract copper from one of the country's largest deposits.

Original Author: Nikita Drobny