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Will HMS Bergbau put $700 million in lithium production in Kazakhstan?

German HMS Bergbau AG is planning to put $700 million in lithium production in Kazakhstan once it obtains full control over a local company that runs two lithium fields, according to Minister of Industry and Infrastructural Development Marat Karabayev. «German public company Bergbau has bought 51% of shares of a Kazakhstani business.

Which German company is going to produce rare metals in Kazakhstan?

According to the minister, Bergbau is the first company from Germany that is going to produce rare metals in Kazakhstan. In contrast, Chinese companies have been working in this sector in Kazakhstan for a long time. «The German company will run two lithium fields in the East Kazakhstan region. The amount of investments is expected at $700 million.

Who owns 51% of a Kazakhstani business?

«German public company Bergbau has bought 51% of shares of a Kazakhstani business. The German company is now its major stakeholder They run lithium fields in the eastern part of the country. The exploration work is already done and now we are talking about production,» he told journalists.

Are Chinese companies in Kazakhstan competitive?

In regard to Chinese companies which operate in Kazakhstan, Karabayev described them as highly competitive. Chinese companies process more than 70% of all rare metals produced in the world. Some businesses from Canada and South Korea are also showing interest in rare metals in Kazakhstan.

Will a Kazakhstani company benefit from cooperation with a European company?

As the official noted, a Kazakhstani company will benefit from cooperation with a European company in terms of expertise. However, more sophisticated production of lithium batteries will depend on the capacity of these fields that Bergbau currently controls. «Lithium batteries for electric cars is the second stage.

What is Kazakhstani creada doing with HMS Bergbau?

On June 21, Kazakhstani Creada Corporation and German HMS Bergbau AG agreed to cooperate in the spheres of exploring, producing and processing rare metals in the East Kazakhstan region. Rare metals are crucial elements for high-tech products such as electronics, magnets, batteries and other innovative goods.