Kazakhstan: Development Bank Announces Program to Develop Rare Earth Metals Industry

The Development Bank of Kazakhstan (DBK) has announced the launch of a new financing program to support projects in the extraction and processing of rare and rare earth metals, Orda.kz reports.

According to the DBK, the initiative will run from 2025 to 2030 and aims to accelerate the development of Kazakhstan’s mining and metallurgical sectors, particularly in critical and high-value materials. The program targets medium- and large-scale businesses investing in these strategically important industries.

The minimum loan amount is set at five billion tenge (or the equivalent in foreign currency), with a maximum term of up to 20 years and the possibility of a grace period.

We are creating the conditions for Kazakhstan to become a producer of finished goods with high added value. This will help form new technological chains, enhance industrial competitiveness, and strengthen our country’s position in the global market for critical materials,
 said Marat Yelibayev, Chair of the DBK Board of Directors.

Applicants must hold confirmed reserves of rare or rare earth minerals, including lanthanides, scandium, yttrium, lithium, cobalt, tungsten, gallium, and graphite — key inputs in the production of modern high-tech equipment.

The DBK expects the program to create new jobs, increase exports, and reinforce Kazakhstan’s reputation as a reliable supplier of strategic materials on the international market.

Earlier, Orda.kz reported that investment in rare and its production in Kazakhstan remains well below the level required for sustainable industry growth.

Original Author: Nikita Drobny