Germany’s Bergbau to Invest $500M in Lithium Projects in East Kazakhstan
Photo: freepik, illustrative purposes
Two industrial facilities for lithium mining and processing will be built in the Ulan district of the East Kazakhstan Region by 2029, Orda.kz reports, citing regional outlet YK-news.kz.
At a session of the regional maslikhat, regional akim Nurymbet Saktaganov announced plans to construct a mining and processing plant for lithium extraction and a facility to process pegmatite ores into lithium oxide concentrate.
The projects will be financed by the German company Bergbau, which has committed to investing $500 million.
Bergbau is one of Germany’s leading independent mining companies, specializing in the exploration and extraction of mineral resources. The company operates globally, with activities in the USA, Singapore, South Africa, Indonesia, Poland, the UAE, and Botswana, and representative offices in China and India.
In 2023, President Qasym-Jomart Toqayev met with Bergbau CEO Dennis Schwindt, where they reached preliminary agreements for the company to enter Kazakhstan’s lithium sector.
In 2024, another major lithium deposit was discovered in East Kazakhstan—marking a significant find of one of the world’s most in-demand metals, essential for the production of lithium-ion batteries used in phones, laptops, cameras, and electric vehicles.
Original Author: Aliya Askarova
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